PB::
Some idle thoughts here:
Investing ( a concept not applied to stocks until 20 years after the DJI was created) has again become
a gamble. I was race- horse gambler ( as hobby) from 1950 until about 12 years ago.
Despite having a math degree, which proves nearly worthless with horses or stocks ( how about that LTCM ?)
the best system always involved the unknown or unique factors.
Such as:
Horses for courses, a cheap horse who wins three in a row and is up in class (12/1), a top-bred horse who wins two of three at a cheap track like Portland Meadows, and then goes to Longacres ( 20/1), a Jockey from a cheap track like Yakima Meadows who runs his first race at a major track - Longacres ( 22/1)
A "crooked" jockey who loses the second race 23 times in a row while on the favorite- bet the Daily double to another horse.<G>= $1200.
A grey-colored horse running on a muddy track at good odds (Determine in the Derby) (hehehehe)
Investing is a term better reserved for a piece of property, a home, an education, an antique.
It is said, when coming to a fork in the road, its best to take the least-traveled way. And at the minimum , one will learn something new and useful.
Michael Dell took the least-traveled( on-line sales) and look what happined<g>
And how many investors got in early on an unknown Dell, when all the news and hype was about #1 CPQ and Mr. Eckhard. ?
In summary then, I am very wary of following the crowd and thus I try to avoid the most popular or talked-about stocks. like Csco, Msft, Intc, Wmt, Orcl, Sunw, Qcom, NT, Oils, Energy, Reits.Traders can make it in these,
but bubbles of all sizes are created and then burst.
And when leaving a race track at the end of the day its all over with- you are not going to lose another $1000 or $89,000 by 8:AM the next morning when a stock opens lower because of an idiotic downgrade or the CFO leaves town on the corporate jet or is hauled off in irons ( a newer concept now gaining popularity)
Until the public returns to the market, the big boys will be fighting over a fast-diminishing pot.
Here is some of the fur flying as brokers try to get their 'take' out of investor $$$'s
<<<Companies that even six months ago were considered strong enough to buy assets are now sellers, complicating Wall Street's task but helping rainmakers pull in much-needed investment banking fees. >>>
biz.yahoo.com
JMHO
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