SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: paul e thomas who wrote (8605)12/31/1997 6:26:00 PM
From: paul e thomas  Read Replies (4) of 13949
 
IT TAKES PATIENCE SOMETIMES

In 1997 I sold stocks 272 times I bought earlier.I invested 3.7 million $ of which 95 % was in Y2K stocks. IT was a rocky road to travel as 4/1 and as recently as 11/11 I was losing money on a year to date basis. ON 11/11 I was in fact on a total portfolio basis including the current portfolio 83,000$ in the hole for the year.NOne the less I stuck to my belief that the Y2K stocks with the best competitive position should be backed aggressively. Since 11/11 my strategy has paid off . My current investment of 430,000$ is now up 29% for an annualized gain of 293%. With yesterdays gain of 48,000$ on the sale of 200,000 $ of IMRS I now have a 6% gain or 15% annualized on the stocks I have sold. Since 11/11/ I have gained 280,000$. I tell you this not to impress you but to encourage you to stay focused. During the year I adopted a number of different tactics.In the beginning of the year I was mostly betting on Y@K stocks on the basis of stochastic indicators. I got mesmerized by my first quarter sucecess particularly with VIAS. I unfortunately rode it down buying all the way and took some big losses. I also got very badly burned by trying to ride the ZITL train.In the second quarter I discovered IMRS and CBSL and was among one of the fortunate to ride both up.After each quarterly conference call and after a personal talk with Satish Sanan I became really convinced IMRS had the soundest strategic plan of any of the Y2K players. This belief was tested when the stock price collapsed from 31 to 20. Fortunately I believed in my own instincts and bet big IMRS would in due course test the 2nd quarter high. Today it hit 38$. I have no illusions IMRS is a moonshot from this point despite the MAD MONKS current belief to the contrary. I intend to sell IMRS at the first signs of profit taking in the hope of buying back at lower prices.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News