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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (38854)	8/9/2002 7:35:34 PM
From: Captain Jack	Read Replies (1) \| Respond to of 52237

Dennis -- LOL,, but no one had anything to say as I was buying the Bs from 2033 tom 2101. Today 2360 and still not worried for a swing trade even though 1 day they dropped $86. Besides-- I'll keep some of those for the LT. Saw this from an interview with a guy named Perkins about Buffett..... like a trader,,, patience & you'll find your price?? No emotion involved... I used to trade with him [Buffett] when I was at Salomon . He was a customer of Salomon back in the early '70s, and I can remember when he was buying bank stocks in 1971, the doggy banks, not the growth stock banks. He was buying Harris Trust. And the Manufacturer's Hanover Trust department called up and said they had a big block of stock in Harris Trust for sale. Buffett had a trader, a fellow by the name of Bill Scott in his office in Omaha. And we called Bill Scott and said, "We got a block of Harris Trust for sale." The stock was around $49 and he said, "I'll pay $47." And so we called Manny Hanny back and told them he said he'd pay $47 and they said, "That's ridiculous, down 2 points. That's crazy." Of course, Harris Trust didn't trade very much, so Buffett was the only buyer around. So we called Scott back and said, "The seller won't go below the market. They'll sell it for 48.5," and Buffett's response was, "Tell them we're not interested." So, we call Manny Hanny back and say, "There are no bids." "What do you mean no bids?" they say. "Tell 'em I'll sell 'em at 47." So Buffett's guy says, "47 is no good any more. We've gone on to something else and we're just not interested." So the Manny Hanny guy couldn't believe that somebody just walked away. So he now starts calling everybody on the Street trying to sell and the next thing you know, the stock is around 44. And he'd call us back back and ask, "Can you buy it now?" And I would call Buffett back and he would say, "I'll pay 42." That's his whole deal. Iron-willed discipline. People who know what they know and know what they're good at survive over time.

To: dennis michael patterson who wrote (38854)	8/9/2002 7:46:31 PM
From: Captain Jack	Read Replies (1) \| Respond to of 52237

Dennis ~~OT~~ Please note the following new financial terms definitions in the light of current economic challenges. These definitions will be incorporated in the Allan Greenspan and the Senate Banking Committee Beige Book, as well as in the new upcoming SEC regulations. EBITDA: earnings before I tricked damn auditor. EBIT: earnings before irregularities and tampering. CEO: chief embezzlement officer. CFO: corporate fraud officer. NAV: normal Anderson valuation. FRS: fantasy reporting standards. P/E: parole entitlement. EPS: eventual prison sentence. BULL MARKET-A random market movement causing an investor to mistake himself for a financial genius. BEAR MARKET-A 6 to 18-month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no . MOMENTUM INVESTING-The fine art of buying high and selling low. VALUE INVESTING-The art of buying low and selling lower. P/E RATIO-The percentage of investors wetting their pants as the market keeps crashing. BROKER-What my broker has made me. "BUY, BUY"-A flight attendant making market recommendations as you step off the plane. STANDARD & POOR-Your life in a nutshell. STOCK ANALYST-Idiot who just downgraded your stock. STOCK SPLIT-When your ex-wife and her lawyer split your assets equally between themselves. MARKET CORRECTION-The day after you buy stocks. CASH FLOW-The movement your money makes as it disappears. YAHOO-What you yell after selling it to some poor sucker for $240 per share. WINDOWS 2000 -- What you jump out of when you're the sucker that bought Yahoo @ $240 per share. INSTITUTIONAL INVESTOR-Past year investor who's now locked up in a nuthouse. PROFIT-Religious guy who talks to God