Kemble:
As you know I have said I would never sell Dell, which is not quite true as follows:
One portfolio of mine involves a lot of Dell, in Jan 1997
was worth a high of $64,000 , because of the March tankage of around 15%, declined to $45,000.
Another $2000 decline and I would have sold it all, at a good
profit and no more Dell.
However, the gods were kind enough to turn the market around and that portfolio rose over the summer to $136,000
which over the past few days declined to $100,000
Therefore I came within ONE DAY of missing all the fun of
talking to you people, and the enjoyment of watching $22,000
grow into $136,000( or even the present $100,000)
So at what point would I sell Dell?????( and miss the recovery
and the next two blow-away quarters???)
I guess that would be about another 600 point drop in the Dow,
or when that portfolio reaches 80 or 85 k .
I am not expecting that to happen, and be rather disgusted
if it did and would just revise my retirement plans.
( Part of that would be to repair and sell two of my three
old Mercedes diesels and buy stock with it)
It is not quite time to have to decide what to do,I might
just sell the whole works, put it in CD/s, and then begin to
buy Dell back in small chunks if it is still a progressive
company.
When and if Dell gets to @$70 I will make the final decision
Sig
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