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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (8388)	9/26/1999 12:22:00 AM
From: Q.	Respond to of 78958

VIX peaked at 32 Friday morning. I then bought SPX calls. A bad time to be short volatile stocks, IMHO.

To: James Clarke who wrote (8388)	9/26/1999 12:30:00 AM
From: Madharry	Respond to of 78958

Probably not much consolation to you but Someone else noted that the die hard gamblers are the last to leave the burning casino- so I expect the the internuts and IPOs to be the last to cave. After picking up Barrons and seeing articles about Wrigley's and mfg. housing back to back I concluded that some lurker from Barron's editorial staff must be one of your avid readers.

To: James Clarke who wrote (8388)	9/26/1999 1:36:00 AM
From: Paul Senior	Read Replies (2) \| Respond to of 78958

James Clarke! This: "To be honest, I wish I shorted most of the stocks I was recommending six months ago!" is definitely not the thing to be posting for me to see on an up-late-with-not much-to-do, hot-chocolate Saturday night! Because... let's just see exactly what you WERE recommending -gg-: Six months ago between March 15 and April 16, you were recommending on this thread(to buy)the following stocks at the then price (rough price interpretation from Yahoo chart by me based on your posting date)vs. today's (rough) price: MO, then 33, now 34 ANGLY, then 35 now 53 (Yahoo sym.= AAUK) CMH, 11, now 9 ABK, 54, now 49 USEC, 13, now 10 Assuming I bought equal $ amounts into each of your picks, say about $3300, I'd have invested about $16,500. That investment would be worth today about $16,600. The money would've been made on the long side. You might not have wanted (in hindsight)to buy the stocks at the buy points they were posted at, and you might not have wished to have recommended those particular stocks. Of course, 3 of 5 (or most) stocks dropped, but to have wished to have shorted most of the stocks, you'd also want to have wished that if you did short most, they were those exact three (avoid shorting Anglo). I claim short-selling thinking contributes to the turmoil investors face when times are tough. If a person thinks he/she always has or had the choice to sell-short, then in hindsight, that option frequently looks attractive. A stock goes down, just too easy to say "I should have shorted, not bought. Next time I'll think more about shorting." And I claim such thinking detracts from overall investment performance. Especially for value investors: finding, buying and holding undervalued stocks. That's my opinion anyway. Paul.