Credit where credit is due--Looking back of course, I wish I had bought AOL 70 calls instead of puts, but that's how the ball bounces. I admit that I've taken some losses trying to catch AOLs fall. But that doesn't change the fact that anyone, in my opinion, including you, by the way, that has purchased this stock is a "great fool" by definition. Of course not all greater fools lose money, in fact greater-fool investing can be extremely profitably at times (I believe that greater fools, in general, prefer to be called momentum investors, but that's beside the point). AOL is simply WAY WAY OVERVALUED. There is simply no way to justify the current price based on intrinsic value--it simply cannot be done. Therefore, if you own this stock, you better pray that tomorrow a bigger idiot than you will be willing to pay more than you paid for it. This is a tulip mania, a 1970s Florida real estate craze, an Iomega (last year) etc. It will end, there's no question about that, it's just a matter of when.
I just hope I'm in the right place with about a zillion puts.
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