I received a bunch of mail after my terse withdrawal from the thread. Thanks all. Perhaps an explanation is in order.
1.) I've put my investments in blind trust so that I can write about hi-tech companies without worrying about conflicts of interest.
2.) The thread's value diminishes with the banter and emotionality from both sides. It's more than Mike Winn and the intervention/encounter group that's formed around him.
The apocalyptic nature of y2k evangelism worries me more than it fortifies my resolve as an investor. I have begun to see the pro-tpro enthusiasm as a mild form of cult fever. True, all stocks are pyramid schemes in one way or another, but this one has some of the characteristics of a quasi-spiritual multi-level marketing scheme. Belief in the coming disaster is supposed to fuel commitment to the stock. Pumping one another up, and converting more friends and relatives into believers insures the growth and maintenance of faith. This is a dangerous mix of emotional and social forces.
It is also why the thread is so particularly vulnerable to the emotional and unfounded attacks of detractors.
3.) As a journalist, I don't want my own enthusiasm for a stock or its story to be viewed as membership in the apocalypse bandwagon, or as a self-interested touting of an issue that I, myself, might happen to own. Further, the quality of the conversation had fallen to such a low level that I became, frankly, embarrassed to be a part.
4.) I believe my Merril Lynch broker sold my TPRO, along with most of my other low-cap hi-tech stocks. I guess I'll find out in a couple of years.
I hope this doesn't come across as an indictment of anyone on this thread, or the fine company to which it's dedicated. It's not. I simply believe the stakes, emotionality, and fervor have gotten out of everyone's control.
Good luck all, and go topro. I'll be lurking on occasion, and thinking about how to cover Y2k effectively with my pen rather than my wallet. |
