Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Earlie who wrote (176735)	7/1/2002 6:01:51 PM
From: orkrious	Read Replies (3) of 436258

It has taken this market a LONG time to recognize what a bloated carcass it is. The destruction in this market is UFB. There is a guy in his mid-sixties that works out at my health club. A few months ago IBM got slammed, down from about 110 to 105 for the day. I ran into the guy in the locker room and I asked him how he was doing. He said awful, he owned IBM and it got killed that day. I told him to sell, and he said no way, he owned 10,000 shares and had a cost basis of 20. He didn't want to pay the taxes. It happened to be the day after Fred Hickey's newsletter came out skewering IBM. I told him to hang on, and I ran out to my car to get him my copy. I told him to read it and give it back to me the next time I saw him. I saw the guy a few days later and IBM was down another couple of points. I asked him how he was doing and he said he would have been great if he hadn't read Hickey. I asked him if he was going to sell and he said no. The destruction that is going happening in people's lives is just incredible. ork

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