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Non-Tech : The New Iomega '2000' Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Naggrachi who wrote (1669)	7/15/1999 7:29:00 AM
From: David Colvin	Respond to of 5023

An interesting post from another thread: --------------------------------------------------------------------- Does any of this sound familiar? From thestreet.com regarding another stock, but instructive, nevertheless. After reading this column's back-and-forth with IDT investors, California clinical psychologist Jerome Silverman wrote that he believes it's clear the IDT-iots "reflect an additional classic behavioral principle. This has to do with external support for one's pathological condition. If an individual with pathological ideation is surrounded by people who challenge the pathological position there will be a reasonable probability that the position will be re-evaluated, rejected and a healthier one put in place." "However if the pathological position has external supports -- people who similarly hold that position -- there is often very little chance to have that position re-evaluated, let alone having it modified in a healthier way." "This is why cults are so powerful an influence on their members. It seems that for many buying a stock is similar to joining a cult. Instead of being investors -- open, alert, considering all information concerning their holding -- they become cultists, cheering the stock in spite of negative data and wanting to kill the messenger who brought it." "They find cult mates on Internet message boards and in a kind of ritualistic behavior, post wishful predictions like 'up 10% by next month' or 'big takeover coming.' These posts have nothing to do with fact, but by posting them the action itself serves to reassure them and other cultists that all is well and that they have done something in the service of the cult -- e.g. the post and prediction." "This is similar to primitive peoples who during a drought do a rain dance. It gives them something to do to validate their beliefs and it reaffirms the cultist hope." So it goes. --------------------------------------------------------------------- I'm trying to figure out if I fit this pattern to some degree regarding IOM or any other stock I own. If so, it may not be good for my financial health.....and it could be that I should be more "robot-like" in making decisions on when to buy or sell based on some kind of pre-determined criteria. The problem is, if possible, I prefer to emulate Warren Buffet....investing (for the most part) in what I believe are "great" companies in the making or "great" mature companies (like Intel) and rarely want to sell. Dave