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Pastimes : The Beaver Lodge
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To: Cogito Ergo Sum who wrote (2487)3/18/2022 11:00:01 PM
From: Rarebird  Read Replies (2) of 2935
 
My rules have saved me an tremendous amount of money Sure, a few have rallied substantially after I sold. But most of the time the stocks in question have continued to fall, some quite substantially after I sold. I can't win them all, but what I do successfully is keep losses to a minimum, while letting my winners run.
I don't trade on stories; I trade primarily on price. Fundamentals will keep me in a stock to a point. But I am no believer in any stock. The stock market is a game of financial strategy and ingenuity. I have a responsibility to my subscribers, who thank me everyday for being up 5% this year so far.
Am I suppose to go long garbage because it is up 20% this week after falling 50%? That is something I cannot do with a clear conscience. And I say this because I wouldn't be able to look at myself in the mirror or respect myself if I went long crap and it fell in price.

There is a lot of quality stocks out there that are selling at dirt cheap multiples. I'm holding quite a few of them selling at 4-5 times earnings. Of course, the Street will tell me that they are selling at peak earnings. But I have been hearing that over the past year and the earnings keep growing and remain very strong.

Here's the thing: we all got to live with ourselves in terms of what we do and don't do. I'm constantly running background checks every day in regard to each of my positions. I require a lot more reasons than the view that a stock is going up/down before I go long or short. And don't get me started in regard to risk. Blow ups usually happen when you don't analyze a stock from many different angles.
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