Dave, you summed it all up very nicely. I have to say that reading this thread over the holidays, during the past 10 days or so, has not been much fun. The same arguments by the same people over and over and over again. It's not been much fun for us longs, and it all relates to our basic human psyche. I'll use a really simple example to illustrate my point:
Say a person buys a new car for which he's paid a lot of money and is quite proud of. All his neighbors come over and point out various reasons why he may have problems with it, describing other vehicles with similar design features that had a problem history, and telling him the manufacturer also has some cashflow problems, etc. He may appreciate these inputs so he can keep an eye on the potential problem areas. But if the neighbors keep coming over, day after day, telling him the same things, he is likely to get fed up and tell them where to stuff it.
Well, it's a simplistic example perhaps, but I think it applies to us longs. We've put a lot of money into Valence, in many cases many of our eggs are in the Valence basket because we've made the judgement that Lev & Co. actually DO know what they are doing and we do have confidence in the ultimate success of this venture. So to put it plainly, it gets real old, and very annoying, to hear the same mantra about the same possible disasters over and over. Once is enough, we can all read. This is the reason some longs react rather sharply to those posts, as we've seen.
Am I saying that we don't want to hear the bad, only the good? Should we just banish any negative inputs from the thread so we can read only rosy scenarios? No. Not at all. I, for one, appreciate learning the details of floorless convertibles as described by Zeev, as I knew next to nothing about them previously. (BTW Zeev, if you'll just stop using "then" in all the places you mean to say "than", your "english challenged" situation will disappear. :-} )
So there it is. Beating the same two or three points to death day after day gets BORING. Find something new, guys, even if it's not good news! We don't mind.
Fortunately, I believe the coming weeks will provide lots of new material for posting, and I think the tone of the discussion will turn much more favorable to us longs who only want to make a big pile of money. Now what's wrong with that?
- T - |
