Dennis, Ed, and the rest of the concerned SI crowd,
I am still here, and everything is fine, but things have been so busy that I haven't had time to post. We are also having some furnace trouble, which has taken a good deal of my time. (For those of you in warmer climates, furnace trouble when the outside temperature is 20 degrees below zero is no fun.)
From an investing standpoint, I made what turned out to be a serious miscalculation prior to the end of last year. My thinking was that investors who bought into ANCR between 1 and 3 dollars would take profits the first chance they got in January of 1999. This would defer taxes until 2000, and lock in gains for the year. That ended up being TOTALLY WRONG. Unfortunately, I sold almost all of my shares at that time, and didn't buy them back. Today, I was out of the office all day, so there was no chance for me. I'm not complaining (too much <g>). I was buying at $1 and change when a lot of people were selling, so I made some money without as much risk.
Now, my fear is almost totally market related. This seems like a VERY frothy market, with the potential for some BIG down days, and that makes me a little hesitant to jump in again, especially given the current price. How that affects ANCR, I honestly don't know. It didn't seem to matter today, at all. I am a little concerned that the runup today was totally buyout rumor related, rather than a reflection of fundamentals.
Thanks for the concern. I will probably miss a good portion of this ride, but I can't afford to be wrong (again). I still need $10.75 for my IRA shares, just to break even. <g>
Craig |
