Glenn, lets be honest. You and I were crushed because we came from the old school of fundamentals.
Looking back. Can you ever recall a William, TomD or Mark Fowler post that ever raised concerns of the lack of Fundamentals?
From LA times.
Today, veteran Wall Streeters like David Dreman of Dreman Value Management in New York argue that many individual investors care very little, or not at all, about the fundamentals. "At this point there isn't [that focus] for most investors," Dreman says, with more than a touch of lament in his voice.
Even at the professional money management level, the fundamentals have taken a back seat to an investment discipline based more on pure momentum: If a stock is going up, and its earnings are growing (or just expected to grow) at a relatively fast pace, don't worry about the price of the stock vis-a-vis those earnings--just buy it, before someone else does..
latimes.com
Tomorrow just after the open. I'm going to buy another 1k short just a little later buy 1k long.
With this kind of thinking it's a hedge day traders dream.
Like I told you the other day, it's all about discipline.
Maximum pain. 5 points up, then slam the lid shut. Maximum profit?
Lets just see how greedy I get. |
