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To: Dale Baker who wrote (64896)	9/20/2008 11:52:13 AM
From: Paul Senior	Read Replies (2) \| Respond to of 118717

Fair enough, that's a decent response to my post. Some of this discussion goes to my core beliefs and experience. And at the core, it's a swirling morass that I can't really articulate. Once I had argued that ten years or one bad drop in the market isn't enough experience(e.g. 2000-2002). The guy I was posting to, Mike Burry, was a recently-minted medical doctor, a value investor, and a person with maybe 3-4 years solid experience investing his money. He ripped me apart. Lol - maybe he was right - he went on to start a hedge fund and was reported to have made hundreds of millions of dollars in profits from his short bets on cmo's. Maybe being old/older, I put more value on experience gained from being in market drops than I should. Experience which could be irrelevant or useless or wrong. Maybe this time, this drop in the market is different - it's the Big One, and unlike past times, the market won't be recovering even in a few years. Maybe it is smart/prudent to be out or cash-rich or only trading short-term and/or going to cash on weekends. No one of course really knows. Nibbling. Nothing wrong with that. My opinion though, is if somebody nibbles a little, they ought to swallow a little too. Explanation follows: It's something about how I view KPELY and PCP, for example. What's similar about them - they both have good prospects going forward. Easy to see that. Here's a recent positive article on PCP: marketwatch.com{69D26B6F-7CE0-45FE-B293-A65A8625AE48}&siteid=yhoof2 And at least a couple of people here have owned both stocks. What's also similar, is that both have come down in price. The difference is, imo, that KPELY was swallowed and PCP was nibbled and spit out - based imo, on price action alone. Same good companies, same good prospects. Buying a little of something, not giving it much of a chance and selling it on price action alone would not be something I call nibbling. Then again though, who is to say this is or is not the better way? A replacement purchase for PCP may be better, PCP may crash, people will try to protect themselves from losses, there are different styles for different people, maybe I'm too judgmental. And I'm certainly wrong a lot - Which my stock portfolio now reflects. People will do what they will do. For me, I'll try to hold PCP/others of the ilk, and if nothing changes and if the stock price falls further, and if I have money left and haven't jumped out of a window, I'll want to nibble and swallow a few more shares of those companies whose businesses and stock price-to-value look attractive.