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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (67276)	8/11/2005 11:53:49 PM
From: shades	Read Replies (1) \| Respond to of 74559

Yes, it was a special calling the top show - he said whenever a company says they have integration problems during MandA - you sell, also when there are accounting problems - you sell - that he held NT from 7 dollars to 3 dollars because he forgot this pearl of wisdom?? Here is the problem though, Mr. Phil Grandie says if you properly accounted for expensing options - there would be accounting problems and many companies reporting profits would actually have big losses - hehe. 3.9 million in his portfolio - OK - see that is too much, he probably makes very good money from his CNBC show and sales of his website/service - so this affords him the ability to keep being wrong year after year after year and not noticably change his standard of living - then I hear his wife is super rich so he could lose all his money and still not learn from his mistakes. There was an old story at IBM about a manager who made a bad mistake and cost the company 10 million - Mr. Watson called him into his office and everyone thought he was about to be fired - but he told the manager I am not going to fire you - I just spent 10 million dollars educating you - so learn from the mistake - Mish recently brought up this point about Jesse livermore - he kept making the same mistakes over and over - that is not a wise investor who learns NOT what to do - hehe. I like what Slagle has put me onto and phil grandie reinforces - its playing like blackjack - there is no get rich quick shorting GOOG or such - that is a sure way to long term failure - you stack the odds in your favor - make some plays - keep tight stops - play probabilities - lose a little on 7 stocks but make big on one stock and over a long time you will get very wealthy in the markets. I have read about blackjack players in vegas that have done well with this get rich slow method.