JB,
You may be right on the fact that most current holders are down. And I certainly agree that it's worth venting over. I sure wish I had sold at 17. But when this bear market finally ends, I bet small caps do about 50% over the next year -- and CELL doubles. It's a good company trading at ridiculously low multiples. Do you believe in the company enough to buy more at these levels? If so, then it's an opportunity. If not -- and I'm not trying to be callous here -- then you shouldn't have bought it to begin with, at least not for the long term, or you should have followed whatever sell rules you have and gotten rid of it when they were first violated. I'm not buying more here -- there's too many other bargains out there I want to take advantage of -- but I'm definitely not going to sell because the company has given me no reason to. And I'm ruthless about selling. Just since October, I've sold PAIR, AFCI, CLST, CIEN, XYLN, ASND, EGRP, PGEX, just to name a few. They were all long-term holdings that I sold as soon as their fundamental outlook changed. CELL's fundamental outlook has not changed. When or if it does, I will sell that too, and let everyone know. Until then, I own it for the long-term. They are a very smart, well-managed company that has been very wise and selective in the markets they have targeted. They do not seem to have been affected by the Asian crisis. If their business begins to deteriorate in the slightest way, I will sell them. I sell small companies at the first whiff of trouble. And I think it speaks volumes for the company -- and for cell phone demand in their markets -- that they have not given me a reason to sell. I understand your frustration, though. I'm not immune to it myself. Good luck to you.
Paul |
