Thread - Just Facts
I have not responded to Mr. Wexler's posts for a very long time
because they never change - even when the facts do - he lives in his
own world. However, in the spirit of the holiday - and because I
finally have some time - I thought some members of the thread would
like to examine certain aspects of Mr. Wexler's performance.
On Feb 18, 1998 Mr. Wexler started his own thread - "Bill Wexler's
Prophets of Doom". Here is a link to take you there so you can read
his opening message.
He identified six "can't miss" LONG TERM shorts and even created his
own "index" to measure over all performance. There is absolutely no
indication of any of these stocks being temporarily overvalued on a
run-up. According to Mr. Wexler, these shares were hopelessly
overvalued & had no where to go but down.
Here is a portion of his thread's starting post (my emphasis):
<<I consider all of these "long term" shorts, i.e. I don't trade
them in or out, but I will add to positions on runups. Discussion
on this thread should be limited to the stocks in the model
portfolio. The model portfolio performance will be guaged by the DOOM
INDEX (tm). The DOOM INDEX is the average of the sum total of $1000
worth of each stock on 2/18/97. For the sake of simplicity, I'm
throwing out the fractional portions of each stock price and kicking
off the DOOM INDEX at a nice round 1000 ($6000/6). The object will be
to get the index as close to 0 as possible.>>
============================================================
Here are his six picks with starting prices, predicted long term
price and yesterday's closing price.
SYM 2/18 PRED. 11/25
ATHM 29 <5 64.9375
BTIM 17 <1 15.8125
TCOMA 30 <15 42.0000
TRBO 10 <2 8.875
ZITL 12 <1 3.6875
ZONA 21 <2 19.625
Mr. Wexler's starting index = 1,000
Index value at 11/25 close = 1,127.8
Had you invested $1,000 in each of Mr. Wexler's DOOMED stocks, you
would have an 11.2% gain in 9 months. And this is a portfolio of
companies so flawed, so misdirected, so fraudulent that there was NO
CHANCE for success.
I have no interest in any dialog with Mr. Wexler beyond this factual
review. I have avoided any personal opinions or attacks. I would
like to refer back, however, to one prophetic sentence from Mr.
Wexler's own words pasted above...
<<The object will be to get the index as close to 0 as possible.>>
How does an individual investor "get" a stock price index to zero??
Thanks for paying attention -
Happy Thanksgiving to all - including Mr. Wexler |
