Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: chowder who wrote (24639)	7/21/2003 11:59:21 PM
From: grinder965	Read Replies (1) of 206184

dabum, Always enjoy your posts and the technicals you generously share. Also, you are spot-on when it comes to S/T trading and stocks in a downtrend and I'll accept your statement that NONE of the best traders buy a stock when it's falling. However, I think it's also important to note that some of the world's best money managers do just that. First lets separate fact from fiction......most (by a wide margin) professional money managers under perform the market averages. Ever wonder when a stock tanks big time and the volume increases tenfold who's doing all the selling? Sure the shorts pounce and many of the little guys on margin get squeezed and have to sell but it's the large money managers and institutions who do the wholesale dumping. Why? well it's usually because they don't want to show their bosses and/or clients that they have a huge loser in their portfolio. In other words, they do it because they don't want to get fired! Even though in most cases it is a really dumb thing to do. Although many would never admit to it but if they were holding the same stock in their own personal portfolio I doubt they would sell in most instances. So I guess what I'm trying to say is that if most investors knew what many of their so called professional money managers were doing with their money they would be shocked! BTW - My biggest gains have often come from beaten down stocks in which I take a small position, start to follow closely and are later pummeled into submission when all the bad news comes out. As long as my DD says BK is not in the cards, I sometimes step-up and buy three, four or maybe even five times as many shares. Requires a strong stomach and is not for everyone but it can result in some phenomenal gains. Of course one still needs to manage their capital but putting as much as 20% into one issue is not as risky as it sounds. Keep up the good work!

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