Nick:
I want to thank you and others for welcoming back. I hope that I won't be away for such a prolonged time again. I will say that electronic trading is closer than it has been. I hesitate to give an exact date, knowing that there is a far better chance that it will be wrong, than right, yet having said that I would present the scenario that the more positive momentum that Naxos gains, the quicker it will be getting an electronic posting. Naxos is working on it. They have been devoting the vast majority of time to the Johnson-Lett agreement.
Yes, you are right, Nick. I wrote the first drafts for the news release, and then it was passed on to the legal arm of Naxos, for their input. It was an enjoyable challenge.
I have a habit of never throwing away any investment literature or information, much to the distress of my sweet wife, yet through the accumulation of so much "stuff" it is interesting to go back and look at predictions and the evidence that many market mavens use to support their current picks. Over a period of time, there has been many that have risen on hype, and descended later after they have been deflated. Many stock rises occur because of good media coverage, or strong name association. Some of them enter a crowded arena only to be muscled aside by another more aggressive company. Some never have a chance. There are a handfull though that seem to have a substance far above the normal, a story so compelling, a strength so apparent, that they can't be denied.
Oddly enough, taking a historic cross-section of persons who have made large sums of money in the marketplace, it is through a handfull of unique stocks that most of them make their money. It appears that they have a concentration of effort into certain issues that at first glance much of the investing public is steered away from. This brings me to a primary point of successful investing - superior research. There are a handfull of persons out there that provide what I call "original research". Most of that research is hard work, and doesn't come cheap, but the methods that they use can be learned by anyone who is willing to implement them.
Superior research applied over a period of time, sharpens discernment skills. It is the ability to pick out the stock that could make a big difference and chancing on its ability to climb, that allows the original researchers to achieve far more financial reward than the average market investor.
I believe that the Internet provides a heretofore opening up of informational gates that has never been seen before. It is nothing short of an investing/informational revolution. All of a sudden there is the opportunity to exchange ideas and perceptions with many persons of like mind that one would never have the opportunity to converse with were it not for electronic access via the Internet. How many of us have in a few years gained much information that would take a quarter of a lifetime to accumulate under the older modes of informational access. Consider this example: the most literate place in the world in the 1770's were the American Thirteen Colonies - did that have some impact on the outcome of the revolt and the subsequent setting up of a new governance - I believe that it did. Now consider today the computer revolution - will it overthrow old methodologies of accessing wealthbuilding information, and replace it with a more "hands-on", individual investing research style? - I believe it will. Will we see fortunes that are built via information that came through the Internet? - it does appear possible. Why? because all wealth (other than inherited wealth) comes from a basis first of information, then understanding and then finally application of that knowledge. It is most fulfilling to be living in such interesting times.
:-) Regards,
Kim W. |
