Rod, All -
Re: Rocky's Right?
Over the past couple of years, Rocky has advanced many arguments to support his contention that IOM was a lousy stock to buy. As we look at the chart in retrospect, we can see that, at least as far as a buy and hold strategy goes, this was true.
But the problem with now saying that he was right all along is that nine times out of ten, the arguments he used were nonsense. I'm certainly not going to go digging through old posts to support my opinion, but I can assure you I have been paying attention the whole time.
Rocky's posts have been a mass of non-sequiturs posing as logic, assumptions and opinions stated as facts, boasting, and some facts that were just plain wrong. He has heralded every new press release by the competition as evidence that a new Zip or Jaz killer was just about to ship. Last year at this time he had been saying for weeks that the stock price was headed for the single digits. Adjusting for the split, that prediction still hasn't come true.
It's easy to look back at the chart and say, "See?" But what I DON'T see is how anyone was ever supposed to take Rocky seriously. His credibility was undermined consistently by his own posts.
Clearly, I could have done better if I had sold all my shares in May of 1996, instead of just half of them. Clearly, since November, the facts support the notion that the fundamentals of Iomega are, if not already changed, at least undergoing a serious transition.
The story is still not over. None of us really knows the ending, yet. I am less convinced than ever that the ending will be a happy one, but we will see.
- Allen |
