Well said Don: You are so right and referring to AOL is an interesting analogy. This could well be another AOL. Stranger things have often happened. We all make those mistakes. I bought a decent chunk of Citicorp in 1991 at $10, Chrysler too at same price as well as GM and Ford at the same relative levels.
I thought back then that I was really smart selling them all for a 60% profit, when it turns out I could have been on the ride of my life in CCI along with my pal (if only) and Great Mentor Saudi Prince Al Wahleed, who reportedly bought in at the same price.
I'd like to drop ship or 'multi-cast' on one of those new fangled paging devices, today's news release on FNTN to him and save us all from the anxiety of the next few days...but I guess enough people will pick up on this story to make things happen anyway.
Some commiseration for the pain of missing a dream run on CCI was extracted a few weeks ago when in a bit of daring good fortune, I managed to pinpoint almost the exact top of Citi at $179 and helped a number of faithful followers of my Email report into heavy short positions at that level.
We had a few nervous moments as the price continued to rise to 182 and close at 181. But by the next day, when it failed to open on time, I began to feel a bit safer and a whole lot safer when if opened $6 lower and traded quickly down to $10 lower to where it is today: $30 Dollars lower.
Back to the AOL discussion. I just want to pose an idea to you about the potential risks of accurately predicting the future before it happens. Invariably, most people render you as a candidate to be committed to the loony bin. Believe me it's happened to so many times it's becoming normal. And when that happens, my instincts tell me I have a better chance of being right.
Imagine that you were invited on to Larry King live in 1992, to join Ross Perot and now VP, Al Gore in their debate. Imagine how stupid you would have looked to the whole World, if you had told Ross Perot that the Dow would be over 9200 by 2nd quarter 1998 and that the budget was due to come in the same year about 50 Billion in surplus. They would have had security escort you off the show in a straitjacket! I guess same could be said of your 'small holding' in AOL, Ronald Reagan as US President in 'Back to the Future' or Kennedy's Moon Shot 1969 goal which at the time he was offered 25000 to 1 odds against it happening. My personal #1 rule: "Never say never".
No, today is an historic day in a way for us in this corner, fortunate enough to be here and experience it, because it opened the doors to a Giant of an idea that could impact us all in many and varied ways.
Wiz putting the Beluga Caviar & Vintage Champagne on ice, but not yet ready to partake just yet. Needs to stay disciplined. Saving the Champers for the next appropriate milestone, whatever that may be...One million, two million subscribers perhaps or maybe a $10 stock price or reaching the old highs again...Just dreaming. The caviar though, maybe if we go through a dollar or two I'll start nibbling.
Footnote: When Michael Dell says he see's the net as the only way for his business to go in the future and see's the day soon when he will be net exclusive, we may begin to comprehend why Wall St is going nuts over the net.
Are we in the right place at the right time or what?
Have a great evening
Rgds
Wiz |
