John:
I'm one of your fans, observing (though I mostly kept it to myself) some time ago during your first encounters here that what you had to say was worth hearing. Perhaps I have a thicker skin than I need, or it may be that I was not sensitive enough to how your earlier were affecting others, since none of them were directed at me. Personally, I think you've gotten by that period and hope you'll stick with us.
On responsibility: I will stand up and take my own blame. When I asked who was telling us to duck and cover, I was not trying to shed blame or place it elsewhere. I simply didn't know where else to look. I didn't know where other opinions were being expressed. Like right now.
There will be a time when the market turns...someone will have it nailed. I'd like to know now who that someone is.
IOW...where is the guy or gal who is smarter than me, and what are they saying, and am I understanding it. I am sure there are many who fit that description.
For example, your post on CSCO. I gathered that your position is that the stock is best avoided now because so much of the company's cash position has been propped up by paid-in capital from option holders. With those now being far less valuable, CSCO's cash position will erode should sales take further tumbles.
Have I got that right?
BTW, John, that analysis is one that I would have never had the idea to do. I've saved it, as an example to use another day. Thanks.
On Whispering: Boy, were we wearing blinders, and not just us. Many stock threads were just as overly bullish as we were, and we had a bible as our cover. I think it still valid, that in another day it's lessons will stand. I hope however that all of us can broaden our investment attitudes to include some macro views.
On Stops: TMF (the book) advised use of stops. If I recall, their number was 8 per cent. That would have made room for lots of re entry points, and enough tax headaches to satisfy even our most patriotic souls. I think we'd all be richer for it.
Chaz |
