Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Broken_Clock who wrote (15668)	3/20/1998 12:51:00 PM
From: Lucretius	Read Replies (1) of 95453

<<<Now a true long term investor would have kept his GLM after he bought it at $250 in the late 70s, right? >> NO!!!!!!!!!!!!! you buy when a co. is undervalued and sell when it is overvalued. MOMO buys simply cause "gee it's going up, it'll probably go a little higher." An investor can own co's S-T just like anyone else. I prefer L-T investments because of the lower tax rate, but obviously I take S-T opportunities as well as evidenced by my NKE short. I'm not locked into L-T anything unless I belive there is still upside based on valuation. I would sell NE in a heartbeat if it opened tomorrow morning at $80, because the stock is not worth $80 w/ the present earnings and assets and general macro factors. While I do believe it will reach $80 eventually, If someone wants to pay that kind of premium on future earnings, I'll take it and buy something else. That's investing: buying when nobody will touch it, and selling when everybody wants it. MOMO is buying something everybody already wants, hoping that a few more want it at a price above where you just bought it. That's gambling. All IMHO of course. -Lucretius

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