Sorry Glenn, I'm just in the other camp on this one buddy :(
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Source: boards.fool.com
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Re: fool.com (Link good today only)
After reading Mr. Gardners FoolPort update of today, "SCHIZOPHRENIA ON WALL STREET!", I am left with a very clear definition.
A) What a Fool is.
In defining the "Fool" philosophy, Mr. Gardner has made it clear that in Fooldom, that Zax will never be anything other than unFoolish.
A contrarian investor tries to understand and outplay Wall Street at its own game. A Fool and his money are INVESTED IN AOL.
Quoting from today's FoolPort update:
It is the Foolish way to invest, and in addition to its market-beating historical returns, we can affirm that it will not lead to the schizophrenia that characterizes short-term investors and Wall Street brokerage firms.
Welcome to TMF. Now, quite clearly defined by Management (the owner himself), as the home of the momentum playing investor. This is an investor who is fundamentally afraid of turbulent times where the market comes to FAIR valuations upon severely overpriced companies in markets where capital has become increasingly mis-allocated.
One where the rich do not merely get richer and the poor poorer.
A market, so inhospitible to philosophies based upon what Zax finds to be abhorent principles, that those whose worlds circulate around beliefs and stock hyping methodologies ingrained in such tenets will see their obscene profits evaporate like dry ice in the sun.
I would like to assure those who actually do care about the very real life struggles taking place with respect to the valuation of companies in the increasingly END INVESTOR directed marketplace (isn't the age of internet stock trading great?!) at present, that what this turbulence represents to their precious and necessary small capitalization stocks, is a VERY GOOD THING.
Thus, schitzophrenia would best be used to describe a person who agrees with the major brokerages when the brokerages agree with them, and then call the market a schitzoid victim of short term traders and corrupt brokerages when the tide changes against them.
Welcome, friends to dawn of the 21st century, where man has become wise enough from his own past, to avoid another Gilded Age of commerce hub investment.
Welcome, my friends, to Mr. Gardner's WORST NIGHTMARE.
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