<To "Kingpin", who the hell are you to try "to pin him down on CNBC to find out exactly how much money he has lost over this period"?>
One would be well served to know the track record of those that hold themselves out as experts. In this business the last thing you want to do is take advice from people who HAVE BEEN CONSISTANTLY WRONG FOR YEARS.
I am simply saying that Fleckenstein has been wrong for as long as I can remember.By the way, are you inferring that money managers are some sort of gods that cannot be questioned? That is ridiculous.
You sound really bitter.
I was just trying to extract some intelligent conversations about the prospects of the company. I am sorry I insulted you.
<Are you one of his clients?>
Of course not. If I was I would have missed out entirely on the best run the stock market has had since the 1960's.
<What does his past performance have to do with the future prospects for the market in general? >
Obviously nothing. But you were making a bear case based solely on his ideas. His ideas have been the same money losing ones since 1995.
<Are you arguing that because the market has been up unusually strongly for the last three years, it, therefore, can't go down?>
What?
<Can't you come up with any rational argument to debate the points Graham made in 1934 about developments that seem to be repeating themselves now? Instead, you only smear the messenger. >
My point was not to debate the work of Graham. I have nothing but respect for Graham's work. It is the agenda of the messenger that I take exception to. Also, these developments you speak of have been around for many years. They are as tired as ole Bill. Hasn't the market been overvalued for at least two years now? Why do you think it will change now?
Of course, if you would adhere to his findings absolutely, you would have missed out on stocks like AOL, Yahoo, Excite, All the telecom stocks and many more.
I have not missed these stocks.
FYI, I am not without my own concerns in regard to EGGS. I just find their business model to be remarkably similar to that of a few companies selling at much higher valuations. I have exactly 3% of my portfolio in the stock.
Take a chill. |
