John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Raymond Duray who wrote (6335)	6/26/2002 10:16:13 PM
From: Lee Lichterman III	Read Replies (2) of 33421

Are you serious? Was there anyone out there that didnt know that the Dot bombs were worth nothing? Did anyone really believe that if you were selling widgets at a loss, that if you sold more in volume you would make money? Yes, I will grant you there were a "few" bad apples in the CEO and stock touting world but the investor is responsible to do his own DD and when 95% or so of the idiots that lost their money over the last few years couldn't or else wouldn't put forth the effort to read a 10Q, 10K, and just bought because their garbage man had a hot stock tip then they deserve what they get. There is an age old saying that a fool and his money are soon parted and we had a ton of fools and now they are parting with their money. I honestly feel for the ones that lost out due to corruption like old ladies that had ENE. But there were warning signs for years ahead of the bubble pop and no one wanted to listen. People still rag on Armstrong for ruining T but was he really wrong to try and change T into a broadband power house. I personally think he saw the end of long distance and saw that the web was going to be a power house and revenue stream for the future but was just too late and got into too much debt. Had he been able to get an earlier start, he might have pulled it off. As John pointed out, there were tons of good stocks for sale that no one wanted because they were all chasing the Mo Mo stocks of tech glamour land. How many REITs yielding 10-20% were out there in 1998 that no one would touch because they weren't "in style". Those same stocks have now since tripled or better. How many others in Food, industrial supplies etc were in the same boat that have been making new highs as everyone is still chasing techs and telecoms as they implode? Here is a weekly scan I do to show me what is moving. All these stocks are near 52 week highs right now........ marketswing.com How many do you think anyone on SI or on most trading boards have even heard of most of them? Investors have no one to blame except themselves barring the very rare corporate book cooking scams and most people haven't lost their fortunes in these few companies. Most of the stuff they bought wasn't worth anything when they started. Good Luck, Lee

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