To: Dale Baker who wrote (62 ) 3/22/2000 4:29:00 PM From: marcos Read Replies (1) | Respond to of 960
Not memorable probably ... perhaps a good thing if you're not familiar with my whacko humour in kidding around with Cheeky Kid ... Dale, your comments on Tulipomania Blowoff and on tigerinvestor.com show you capable of thought and of expressing that thought well ... permit me to respond to some of those thoughts ... no tongue in cheek - In the fall of 1996, having messed around sporadically with stocks for some thirty years, i bought this my first computer. Figured out at the time that i had withdrawn several times more from brokerage house accounts than i had ever put in, so might as well stick with it and upgrade the tools to get more in touch. I used to buy stocks and hold them, check the quotes in the paper twice a week if i was in the country, if not i'd check them when i got back, no big deal. Dividends were great, every once in a while you could pick up another board lot or two of something just from the nickels that dribbled into the account. Otherwise, outside of an occasional adjustment for cyclicals or for cash deposited or withdrawn, i just left them alone to do their thing. Full-service houses, you see [read 'fat-commission houses']. Comes the internet, along with a discount broker account ... well hoo-hah, all of a sudden it's easy to trade and information leading to quality trading decisions abounds, for instance the ready availability of charts and people posting TA analysis which i used to scoff at but now don't trade without ... in pre-computer '96 i made i think eight trades, post-computer '96 around fourty or fifty, in the first half of '97 three hundred or so ... not all brilliant trades, lol, but i made money net ... whiz-bang, me the investor became me the trader to a surprising extent. Hence my interest in cpt, btw - SEG is one of few New Economy services i can imagine myself using. So - one of your points wholeheartedly conceded - Technology has changed my life for sure ... and i have little doubt that it will change it in the future, as tools improve i will put out the effort to learn to use them, no question. On another point though - this thing you have against commodities in general and metals in particular ... ok, here i'm responding to this sentence - "I don't play basic materials and commodity stocks at all - so forget about chemicals, gold, silver and the like. "tigerinvestor.com Hope that's not the imperative mood there in 'forget', lol ... i couldn't ... at least half my returns over the years have been in metals juniors alone [read 'gold'] ... gold, banks, oil, real estate, there's my old holy quadrilogy ... all concrete assets except for banks, and as all miners know, the banks end up with all the money in the end anyway, lol. Metals are solid and they're not going out of style ... check the chart for palladium, for instance. Gold and silver will come back. Check supply and demand curves, it's like the law of gravity, they will come back, and when they do shares of their producers will enjoy huge leverage. For example, bay.to for silver and suf.to for platinum group metals will both be able to mine at a profit at today's prices for their products, they both have blue sky room to improve their reserves, they're both cheap in relation to NAV, and they'll both move well when when the time comes ... better than the average high-flyer tech stock imho, and better than the average clothing retailer [aaaargh ... sorry, i just hate retailing in general, lol]. That being said, i did not buy suf.to or bay.to today ... i upped the acb on cpt.v by adding at 4.10 and 4.15 .. so, just for today, i'll temporarily concede the other point -g- .... cheers ... twolipsmarcos