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Strategies & Market Trends : Bill Wexler's Profits of DOOM
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To: Josef Svejk who wrote (3298)10/2/1998 12:43:00 PM
From: Bill Wexler  Read Replies (3) of 4634
 
Sometimes I wonder why they don't rename SI Gamblers Anonymous.

It is impossible to predict the short-term price movements of stocks - I am amazed that people continue to insist that they can. I invest, I don't gamble. I am 100% correct about TAVA because shorting the stock when it was at nosebleed territory (10) relative to its decaying fundamentals proved to be correct and profitable in the long run.

I am now long several companies because recent market volatility has given me the opportunity to get them cheap. That doesn't mean that they can't get much cheaper in the short term; however, I am confident that in the longer term they will prove to be profitable investments.

To summarize: buying more stock over time in a profitable, growing business is called dollar-cost averaging. Buying more stock in a fraud like TAVA as it sinks lower and lower is called flushing money down the toilet.
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