Bill:
While I have no specific information pro or con regarding any particular situation mentioned or alluded to in the article, I do,
IMO very strongly agree with at least one thing they said:
"To succeed in this business, you need to keep any "herd instinct" in check and control your natural and emotional reaction to news plants and disinformation, and be ready to go against the crowd. "
First, I am NOT a trader. Both John Templeton and Peter Lynch have said they cannot successfully trade the market. They are two of the
best investors of this century. Why should I feel I can do better?
Second, I buy a stock because *I* want to. Not because someone tells
me I should. Consider buying a stock like marriage. You wouldn't
get married without knowing a bit about the person, and you certainly
would not get married because someone you hardly know told you he had
a girl that was "just perfect for you." Stocks, like marriages, can
be expensive to get out of.
The fact that a stock analyst or a broker, or a Wall Street Television
host shows up for work means ONE thing: He has NOT made enough money
to retire! Why, In GOD's name people will spend 3 Saturdays shopping
for a new clothes washer, but will listen to darn near anyone about
where to invest 20 times that much money is beyond me!!!
Finally, being a newbie, I'm sure you want to find the next MCI....
buy it at 37 cents and watch it soar! MCI was selling at 37-50cents
in the mid/late 1970's. You know why they still talk about it? IMO, it's because they only happen about once every 20 years! If you are
going to buy a piece of _ _ _ _, do yourself a favor & invest in
lottery tickets instead. You'll like the odds better.
Regards,
Doug |
