AR,>>>If you do the math, the outright speculative puts in that portfolio model are only 5% of the total. And everyone comes through here saying give me the puts.<<<
I have nothing against puts. I have bought puts to hedge against long positions myself and have gone over 5% (not now) of my total portfolio.
But, I do have philosophical problems with short sellers, hedge fund operators, and other investors who make their money primarily from a short or negative position.
I dislike people like Herb Greenberg - it seems like he gets a perverse pleasure out of exposing a negative situation. His primary motivation does not seem to be to help people to manage their money.
Does anybody know of any successful investors who have made their money primarily from short or negative positions?
People advocating short positions on SI discussion threads tend to be people of an immature nature who get a thrill to see people lose money. The same type of people who go to stock car races to see crashes or hockey games to see fights - It seems.
But, don't get me wrong - I don't think people on this thread are of that nature. You people have this thing about value investing that I don't really understand.
I want to invest in good companies - companies that will be around for a while - companies that have terrific products or services. But, it seems like these are the same companies everyone else wants to invest in - and you have to pay a lot to get in.
Unless you were lucky to get into the great companies before most people discover them - you people are telling me in effect that I could never own the great companies of the future.
It is well intentioned people like you that have scared me out of my positions in Dell, Cisco, Yahoo, Qualcomm, and AOL. I sold all these companies way too early. I remember getting out of Qualcomm maybe 5 years ago when Alan Abelson tod me that some highly qualified Phd had told him that Qualcomm's CDMA technology was a fraud and will never work - or words to that effect - but that is another story.
Does value investing mean that you can never own the great companies that will be the future and key to future prosperity - companies like Intel, Microsoft, Lucent, Applied Materials, Cisco - yada, yada, yada....
Find for me some companies that I can invest in and that I can also believe in.
Sincerely,
Mary
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