Mr. Forthright:
As you have so rightly said many times in the past, a certain group of the internet stocks are highly overvalued, based on current valuation methods. I am not going to argue with you over the valuation rules, whether they have changed for internet stocks, etc. since these arguments are in the media everyday and its a no win for both of us right now. In fact, the most anyone can do is consult their crystal ball as to the future. You are obviously using past experiences to guide your investment decisions.
I will like to make note, however, that most on this thread recognize the speculative nature of this stock. It represents, in my case, less than 5% of my portfolio and in no way would it represent more than 10%. I am fully willing to lose all of this money if the price crashes but I feel this risk is offset by the potential upside.
Most of us on this thread also know how to take profits. I have done so many times in the past on this stock, and although I do not wish to disclose my current average price, it does represent a number which is less than 50% of the stock's current price.
Therefore, I talk to you as a serious investor. You may call me a fool, but an even larger fool is one that does not play the market based on the way the market is moving. Why should I, or anyone else for that matter, sit on the sidelines just because current sentiment, by those that are not in this market, says that the "sky is going to fall". And even if the "sky does fall", the serious investor will have made the right moves to protect him/her self.
Go ahead and call me, and others, a fool. But, in the end, I'll be thinking of you as I retire with my cash wondering who you are haunting now! |
