Binder - I too feel great compassion for all those who lost, lost financial, lost emotionally. Yes people put huge amounts of themselves into this, trusting, believing, talking with the company.
You know, "smart" comes with experience. People who are not con-men tend to get conned because, until they have the experience, they cannot possibly think of all the ways to get sc**wed because their minds do not work in that way. So I dont feel that those who got badly hurt were stupid, they just had not traveled that path yet.
"Reminiscences of a Stock Operator" by Edwin LeFevre (can be ordered easily, paperback, Amazon.com) are the personal accounts of one of the greatest speculators of our times. Written in the early 1900's and is so relevant to today I couldnt believe it. Not only is it an easy ready and immensely entertaining, but I learned more from the week I spent reading that than the first 9 months I was in the market. It's a classic and should be read by everyone, imho.
In this market I am out of the pennies. Not to say that I would not return. In a strong, secure, lasting bull market, I might. Companies have to get their start somewhere, viz a viz MSFT, AAPL. But on the whole, the tape doesn't lie. Having plenty of trouble on the big boards anyway. Have no idea whether next month will see 9500 or 6500, kind of idea. Sort of stops one in one's tracks.
Good to hear from you.
Charger |
