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Non-Tech : Shorting the Big Banks (e.g. JPM, BT, CMB, CCI)
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To: dj8000 who wrote (264)3/14/1999 8:46:00 PM
From: BDR  Read Replies (1) of 268
 
<<Dale, I guess you made money by shorting bank long time ago, but I am surprised to see some people still short bank even after I said they should long bank stock.>>

I did make some money shorting the banks. Lost some, too, by holding on into the correction.

--Philosphical Digression--

Several months ago I found myself spending more and more time on the internet researching investments. There was so much information, if I just looked hard and long enough I would find the key to a successful investment, or so I felt. I suspect there are more than a few SI members in the same boat. Well, of course, that was a fruitless endeavor. So, in the interest of "getting a life", I have looked for some other more mechanical, less time consuming, means of identifying prospective investments. I have been aware for a couple of years now of the Dogs of the Dow approach discussed on the Motley Fool and other places. I decided at the end of December to put some money behind that approach. Lo and behold one of the stocks identified by that method was JPM which I bought and it is up 20% since then. I can't claim that I am a brilliant stockpicker when I use that approach, but it is profitable and I have time to do a lot of other things besides stare at my monitor for hours hoping to find that one piece of information that will give me the edge over other investors.
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