Lazarre-
Appreciate your comments. For one, if you check my posts, I DID let people know my plans to dump on Monday morning BEFORE Monday even came. So, plenty had the opportunity to follow me. Secondly, I won't argue against the fact that 1)the greater fool game can go on for an awful long time or 2) at what level the greatest fool is found. However, when stocks move up 5-10 fold in a week, it has clearly become just that: a game. There is no investing going on and to a large extent, those buying these names are doing so in order to either scalp a profit (selling to a greater fool than they) or buying without the analysis necessary to justify an investment. 5-10 fold in a week is just not normal and anyone BUYING into that should recognize that the odds are very much stacked against them.
Who are the really rich people from the investment world that we all read about? Warren Buffet, Peter Lynch, George Soros, Robert Stansky, Foster Friess, Jimmy Rogers. Did any of those people make their fortunes trying to chase a hot market for a day trade or because some schmuck analyst recommended a company on CNBC? NO! They did extremely hard-nosed fundamental work and for the most part, invested long-term. In many cases, they were also contrarian in nature, betting AGAINST the crowd (essentially selling to greater fools).
Those are my beliefs about being successful investing your money and I want people to at least think about the rationale behind their decisions. You can piss away a lot of money with the tired old maxims like "I'll get out when I'm even" and "this thing is the next Microsoft." |
