no, an idiot is someone who looks at a historical chart and imagines he could have exited at the various highs because it would have been so obvious at the time...look at the historical prices on RYVNX:
6-Apr-01 87.86
5-Apr-01 80.46
4-Apr-01 102.44
3-Apr-01 98.41
2-Apr-01 85.17
30-Mar-01 79.41
you're telling me anyone who didn't catch the 1 single day during the entire first half of the year that the fund was over 100 is an idiot? this is ludicrous to the point of being hysterical...thanks for a great laugh
a few days later (april 19th), the fund closed at about 45 bucks, so it lost over 50% in exactly two weeks...you tell me, a person who is long the fund going into this stretch, is it more likely they sold at the high, or gave up on their hedge approximately two weeks later, just at the wrong time, and sold at the interim low? next time it's so obvious that the naz is in for a 10% one day rally, please post here so we can all take advantage of that!
after selling, where would they get back in? using your "idiot" rationale, i guess they would catch the low too to buy back in, and of course they would know to be in before 9/11, because what "idiot" didn't know that was coming? belaboring the point slightly, they would then know to get out on the friday of the following week, and stay out well into the next year, as everyone said our economy was screwed and the market rallied in spite of the doomsayers...i mean i know i felt real confident buying on that friday, heck i bought a whole 100 shares of BAC, DELL, INTC, CSCO, and a few others that day because i was so brave...i even held some of those stocks for a whole 2 trading days and sold when i had made a couple points because at that point any gain seemed like a great gain <G>
sorry if logic is incomprehensible to you...i didn't think it was that hard to understand that if a stock drops 80%, and then gains 80%, you aren't back to even, and i certainly didn't imagine that you would claim to be able to catch the single best print on a fund for an entire half year or more...you must be a far better trader/investor than any of the rest of us mere mortals
LOL |
