Kris, There's many things in your post that I agree with but I do not believe you have followed all my posts or you would understand where I stated I was coming from since I first posted here.
Please allow me to explain my position to you personally. I am a long term investor! I am not a trader! I do not short stocks nor do options! My research consist of finding a company that I feel can be a good investment in years to come. I am not looking for instant gratification when I invest. I do not panic and jump out of a stock before I have allowed the time I originally calculated would be needed for a company to reach my goals. I do not quit in elementary school. I re-evaluate when the company gets to Junior High. If at that grade they still cannot read, I might decide that this company is too slow a "learner" for me and say good-bye. Most of the time we make it to High School. Some even make it through College or Graduate School. Some take longer to graduate than others. I am patient and will wait to see how they progress. I do not get into all the modern stuff that you guys want me to get into. I don't do your kind of research. I don't do your kind of numbers calculations. When you start talking about all the current earnings and things like that, I can't comment because I don't calculate current earnings. This may sound like a dumb way to invest to you but there are many like me that have been very successful with our investing. We apparently have more patience than some of today's investors.
When I first heard about Presstek in 1990, I wasn't looking to see what their current earnings were. I was looking for what kind of market there might be in the printing industry. I waited to see if they in fact could develop a product and build a relationship with ANY printing press manufacturer. They did and I started to invest in Presstek in 1993. My time frame was 10 to 15 years. As I have continued to be satisfied with the company's progress, I have continued to buy. It's still too early to tell if they will in fact wind up with a Masters or not but they certainly are advancing beyond the elementary level, imo.
You suggest that I do not want to look at both sides. It is very difficult to understand the other side. I do not understand how someone decides to become a "short". I guess I look for what I think might be good about a company. If I don't see the good or opportunity, I pass. Does a short start out looking for what's bad with a company? What makes a short decide to become a short? I just cannot comprehend that mentality. To me, it's looking for what's wrong instead of what's right! I always look for the glass to be half full. Does a short always assume that the glass if half empty? Does looking at a company in a negative light reflect the surroundings going on in one's life? Is everything negative? Are shorts basically unhappy people that want others to be unhappy too?
I have never had so much grief with an investment. I saw how volatile Presstek was from 1990 to 1993 and still felt that the positives outweighed the negatives. I didn't know that much about shorting stocks that well then. I just know that a lot of people had their lives turned upside down because of some wanting "instant gratification" and to be right. I don't mind it if I'm wrong in the end with Presstek. I've never been that wrong before so I guess there's always a first time. That's not to say that I haven't lost money in an investment before but I have invested HUGE amounts in this stock because I, with all my heart, believe in the potential for the company in the future.
Now, I'm sure there are legitimate shorts that believe what they believe for whatever reasons. Those shorts try to put forth their reasons and do all the fancy stuff that Wall Street does today. That's okay but that is not the way it has been happening with this stock by all shorters. Please at least have some respect for the fact that I have read EVERY POST on the Presstek thread! Maybe you would better understand my position if you had done the same thing. It has not been a very pretty sight. I saw threats of lawsuits from more than one person in previous posts. Is it all right if the threats are coming from shorts? If "put buyers" can sue the company, can "call buyers" not sue the shorts? If it was okay for previous posters to encourage "class action" suits against the company, is it so unconscionable for a long to suggest that other longs might be interested in a "class action" suit too? In my post to Pierre, the "My, my, my Pierre!" post, the glass was not half full but was overflowing. Someone had to try to stop all the nonsense and allow the market to decide based on the company's performance and not someone's opinion of what the company would do and not on LIES from some with their own agenda. Did I come on with an agenda? You bet your bippy I did. I came on to let people reading this thread know that someone who had an enormous amount of money invested in this company was mad as h**l about all the bulls**t that was going on here, from both sides!!! You just are not realizing how ridiculous it had become. Now, I'm ashamed to have to admit that I became a part of the bulls**t, too. James Shircliff and I had been going back and forth for a couple of weeks before it finally came to a halt. It came to a halt because James wasn't sure if some of the things he had said in the past may, if fact, have been libelous! Not because he and Nanny had had a "thing" going on with jokes and words!!! Presstek filing the suit was much different than what I was inquiring about! My inquiry was could I, and others, do the same thing that was reported in the 10Q (I think that's what you call it) that was issued in June in which the "put" buyers had sued everybody and his brother, even a dead man!!! Are you suggesting they are okay and I'm not? I hope you see my point.
Now, what you may not know is that I spoke to James Shircliff on the afternoon that Presstek filed suit. I was very concerned about him and I got someone to contact him and ask if he would allow me to call him. He did and I did. James is a wonderful person. I really do care about him. I do not think that James wanted to hurt me or anyone else and maybe found himself deeper in this saga than he ever anticipated. He also has some other strange reasons for disliking Presstek but that's his own reasons and not mine!!! I would love for James to come back. I had a lot of fun with him although I do believe that we got too carried away there in the end. James' not posting here is not because of me and if he says it is, I'll call him tomorrow and try to clear it up. (Were any of you in the Debate Club in school?)
So, you see, Kris, I'm not the beast you and others think I am. Did I get cocky like many others? Heck yes! Not real proud of it but there's not much about what's happened with Presstek on this thread that I'm happy with except the company and their products and future. The shorts want it to fail now and I and other longs want the long term picture to continue to develop. Which one of us is at fault for the current situation?
As far as Ivan's old post are concerned, I wouldn't have to bring up his old post if some on this thread did not try to give the impression that Ivan was just an innocent, warm and fuzzy little guy that was expressing his opinion and some old lady has come around now to slander his good name!!! Lots of people do read this thread and lots of new people every day do not know his history! When someone tries to make a martyr out of Ivan, I'll go to my bookmarks whether anyone thinks I should or not!!! I finally got the chance to read the lawsuit today and there's much more to Ivan than this thread! It's not pretty. I'm surprised that anyone on this thread would even THINK of saying anything complimentary about him. It appears that he has intentionally set out to hurt people and has boasted about it, i.e. his post to Jason Rush. That's just the not the kind of behavior I condone. Sorry!
I am a nice person. I do a lot of good for a lot of people. I contribute to my community with time and money. Many people have Presstek shares because of gifting that know it is a 10 to 15 year time frame before their gift comes true. If I'm wrong, the cash is set aside to correct it. But the set aside cash should not have to correct it because some shorts wanted to make a fast buck!!! That's the way I see it. Wall Street has changed and some of us old timers are having a hard time changing with it but the word "opportunity" has not changed. The time frame and definition of opportunity might have changed and I'm not sure it will be for the better.
Gosh, you should know by now not to give me the soap box! I'm sorry if I have offended anyone with my opinions about this company but I've been offended and sometimes being offensive is the only way some will listen!!!
Did I p**s you off again? Can we get to talking about the company, the industry, the competition, etc? Can we be friends?
Love to all,
Nanny
PS I love you, James Shircliff! Please come back and talk to me!!! |
