No, actually, I assume most people do not think and act the way I do. As I posted at the time (with a lengthy explanation), I sold my LT CSCO position in 1999, when it hit a PE of 100. I am only now in the process of re-acquiring my position. Sure, some people have the ability to make rational risk/benefit decisions, and take profits. But most investors don't seem to be able to do this, in my observation.
In particular, I think it is very ironic that bambs is posting about gold on the Cisco thread, because I think (from reading his posts), that he is making the same mistakes about gold, that the Cisco permabulls did about tech stocks. He won't be able to sell at the right time, because he has become inflexibly wedded to an Idea, a Concept. His Belief in Gold, is as silly as many investor's Belief in internet stocks, 2 years ago. He can't see the other side, he is severely overestimating his (or anyone's) ability to predict the future, talking about events he's SURE will happen in 2010. |
