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Strategies & Market Trends : ahhaha's ahs
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To: ahhaha who wrote (7605)3/10/2006 9:00:12 AM
From: GraceZRead Replies (2) of 24758
 
We both know how futile it is to study documents to make money. Hell, she doesn't even bother these days. Now THAT, is sophistication.


I still slog through 10ks when I have trouble sleeping. Sometimes all you need to know is right there in the section that covers risks to the business model. 10ks are very candid these days but the warnings they contain get forgotten. I used to tell my girl friends that you knew everything you needed to know about a guy in the first 15 minutes but you tend to forget the warning signs flashing in your head after you have sex. Same with those 10ks, after you buy and especially after the stock rises, you tend to forget the long list of reasons why that particular company isn't going to be the one.

Grace likes the idea of hanging on until the last sucker is fully in.

I sold all my oil plays on the way up, but in a lot of other stuff I got punished for not leaving while the party was still getting ramped up. I could practice good selling discipline with oil because I don't like it. I don't buy the argument that commodities will somehow be worth more in the future because there will be less of them to go around. This idea surfaces repeatedly throughout history so there will be another couple of rounds in the oil plays. Same with gold, people tend to forget how worthless it is from time to time.

If I learned nothing else this last year it is that waiting until the last sucker is in frequently means you are the last sucker left holding the bag. It feels a lot better selling on the way up than on the way down....unless of course it's a short sale.
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