jeff, a hysterical article,thank god for historical posts. I had the same thing happen to me with BAY,and I got irritated. Everyone was saying the exact same things. I should find some posts similar to yours,but you guys can look them up. Everyone was saying BAY was going into the single digits,hopefully someone would buy them out! Well BAy was at 18,and there was an article about mutual fund guru's starting to short BAY. It fell to 15,and everyone gave up,they were all crying like whipped dogs. Needless to say I and Mang,stuck it out and took our lumps and criticism. Now BAY is at 31 and people are starting to take notice,but it has already doubled. I think BAY is a $40 stock soon, I wish I had the cash to have bought SGI,but it was tied up in BAY and HLIT(not moving,not the same strategy). I have found that this strategy almost always works,and I will not vary from it ever again. I have made the most money with turnarounds,when there was new magement(SGI-Cray peope),new products,and a reason to turnaround. BAY,OREM,GAL,IBM, are my best. Our job is not to invent the truth but to perceive it through the rantings of scared people. Well the whole point is those who know enough about the technology,industry and the company will not panic,but will have enough faith to hold it. Those who lose are those who do not have enough faith, faith remember is the refusal to panic. My job now is to find the next industry,and company where the media hype is all negative,people no longer think the company has a chance,and through due diligence I find they are all wrong. The server market and telecom is hot now, I have made approx 50% in 3 months in telecom stocks(besides HLIT). I don't know if the next great rise will be technology,or some other industry. Anyone's guess where everyone is crying and fear is the greatest and also misplaced?
Hiram
p.s. Jeff,check out BAY,they said almost the exact same things there also,its almost uncanny how human behavior is almost always wrong. |
