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To: Bill Harmond who wrote (144041)7/22/2002 1:59:25 PM
From: GST  Read Replies (1) | Respond to of 164684
 
When you pay ten times what a stock turns out to be "worth" in the market, it is very hard to get your average cost down to anything like the current market price. Paying too much for a stock simply ruins any prospect for a positive return. Do you make any valuation assessment of your picks? Do you discount thr price for risk? Do you understand the concept of discounting a stock for risk?