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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: TWICK who wrote (26377)	7/25/2001 12:05:12 PM
From: tahoe_bound	Read Replies (2) \| Respond to of 28311

Re: Pro Forma Many of the same clowns in the market now slamming pro forma with self righteous indignation were the very same ones touting how wonderful it was 1 year ago. Yes, even here, when the old GNET put up pro forma results every quarter, it was hailed as "earth shattering", or "part of the Messiah Horowitz' grand plan", or "best value in the market." Personal responsibility, not letting gains turn into losses, own due diligence, that sort of thing never stands a chance when heavy emotional invective takes over now manifesting into a blame game. Chapter 9 of Dr. Garfield's book Psychology of Smart Investing sums it up quite well. In defining the traits of conflicted investors, 10 defenses are listed, with the top 3 being: 1) Denial. You get caught up in the moment, and possibly join a group mentality banding together with a few "friends." You make a bad trade, lose money even let a nice gain turn sour, and then pretend it never happened. You can't admit- to yourself or others- that you backed a slow running nag. 2) Distortion: You acknowledge a loss, but you sugar coat it. If someone asks you how you did on a trade that resulted in sizeable losses, you'll say, "Oh, I lost, but I didn't take as bad a hit as other people, and if (blank) hadn't happened I would be doing much better." 3) Projection: You "project" the loss on someone or something else. It was your broker's fault, an unexpected event in the marketplace, something the company did, or the stars were not aligned.