For anyone who wants a peek into the mo-mo which is moving stocks like ebay, amzn, yhoo, etc.: Talked to one of my uncles over Thanksgiving dinner today. This guy is over 70 yrs old, and half-deaf from driving a dozer over land-mines in Burma in WWII. He has always been an industrious guy though, and has saved and scrimped all his life to accumulate money. He lives very very modestly, in an older single-story house. Kids long gone and married. He has for many, many years however, invested in mutual funds, and also in individual stocks. He doesn't own a computer, but places buy and sell orders in-person (or over the telephone, most likely) at a local brick-and-mortar investment company with a small office about a mile from his house.
He's day-trading ebay. He buys in the morning, and sells in the afternoon.
I ask him, what about the business fundamentals of ebay, amzn? Don't you care if these companies are valued into the stratosphere, and some aren't even making money, and some may never turn a profit?
He says so? I'm making money, aren't I?
All I could do was shake my head. This guy is very, very conservative with his money in every other area. But he sees the stocks going up, and wants to get in on it. And he is. |
