Pointing out the worts on a stock that has fallen 75% is not wonderful analysis. It's rear
view mirror. And if the ERP market ever turns, its bad advice.
Most people that know me, or follow my writing/posting at all, know that I am hardly a rear-view mirror analyst. I started looking at PSFT for the article when it was about $21. It's now down another 33%.
I'm a contrarian. If you get time, take a look at my site, www.valuestocks.net. All I do is buy stocks that have fallen horrifically. To me it takes independent thinking to do this. BUT I'm not just buying them because they've fallen. I look at the fundamentals.
I'm not just saying "You all suck! It's going to crash and burn! I'm a genius!" like most bears on SI. I'm presenting a reasoned opinion on why this momentum stock that has fallen significantly may still fall more.
Good analysis is ignoring the price history and evaluating the stock on its own merit at current prices.
As to why I'm not bashing the internets. Believe me, I am. Just not here.
And as to my view being the prevailing one, funny but in my e-mail box, on this thread, and on the Yahoo thread, I certainly did not get that. Especially not when it was still flirting with $20. Then there was supposed to be this great support at 18, then 16, now 14...
MSN puts a little vote box (bull/bear/neutral) next to my PSFT article. Initially, that box was running pretty bullish. I will admit now that a lot of people have gotten more bearish as the price fell to 14, but maybe not enough.
My analysis was not/is not that PSFT should never be bought. I'd buy crap if it's on sale for half the going rate of crap. We'll see how much farther it falls.
Mike
|
