To All, Super idiot statements on CNBS today. First, some guy who claimed to be a portfolio manager was asked about Checkpoint. I don't know the stock, and the name really doesn't matter. His answer does matter. He said, I think it is cheap here, but I would like to see it go up before I buy it. Dumb, dumb, dumb. If it is cheap, and you have a brain and cash, then buy it. Why would a supposedly professional portfolio manager need somebody smarter to buy it first? "I like the new Acura NSX and if it goes up in price, I'll buy it. But I don't want it if it's cheap." <G> And this geek charges money for his financial acumen. He ought to be skinned alive. "So we tanned his hide when he was dead, Fred, and that's it hanging on the shed." (From the big 1960s hit, "Tie Me Kangaroo Down, Sport.") This empty suit's comments show how far the false religions of TA and momentum geekiness have invaded formerly sensible financial institutions.
The second dumb statement came from some guy from Lehman saying that Alan G. had to lower rates again. And fast. To save the folks who are doing dumb things with the mountain of credit AG has already dumped on the economy. Uh, do you think he wants to save dummies like Lehman Brothers? <G>
BTW, on a portfolio note, those who wondered why I played my second third of IBM on such a close strike price need only look at the action of the last few days. I got a triple and now the dog is going back up to give me another shot probably next week. And I still have my 110s if this bowwow breaks down. IBM and Monica are sooooo easy.
<G>
MB |
