BZP. Every once in a while, there's a dink company with no earnings that somebody makes a case for as a great opportunity, and the idea gets carried throughout SI. People who don't know what they are doing get sucked into believing and buying, and buying and believing. For me, I'd say I get caught up not so much in believing, but more in crowd-following and buying. Such as with BZP.
In reflecting, it seems my experience in doing this has resulted my becoming mostly involved with companies that turn out to be losers. (Maybe, the SI sharpies are just so much better than me in picking exit points, if these stocks even go up.)
Otoh though , occasionally there are winners for me. My memory - selective as it is for favorable events vs. more forgetting of unfavorable events - tells me that while I've sometimes/often lost near everything bet on the losers, the winners can double, triple, quadruple or more.
BZP might be one of the few (in my experience) where favorable event/events (today's positive news) will result in positive expectations. That is, it could turn out to be a company with actual profits or significant, verifiable producing assets. If promise/potential seem to be turning to fact, sure, I'm willing to increase my bet. Not by much, because I've been wrong many, many times. (-g-)
Right now BZP/others are just small bets to me. Not much affecting my portfolio. I don't know enough about such companies to take significant stakes. Or have enough faith in the people who recommend these things. To me, it's more like being at a bar and watching a sporting game with a bunch of other guys, and having money bet on the game... just to put some interest/enthusiasm into the discussion and outcome.
All jmo, others may vary. |
