To: Ian@SI who wrote (17694 ) 3/13/1998 11:10:00 PM From: akidron Read Replies (1) | Respond to
I assume the thread bears being referred to are Dave D, Buxxx, Teri and myself... oh and jtechkid.... in actual fact all of us are long term amat bulls... but none of us were content to hold at 100 and watch the value of our investments decline. We are all looking for a re-entry point... I tried it at thirty (30), but felt I had to sell at 37 (64)... because I thought the downside risk too great.... Instead I own a smattering of IFMX OXHP ABX VIA.B AND SLB options as a result of the infamous akidron v. robbie bet and a Buch of MOFN.... to me the purpose of the thread is not to see who can piss furthest, but to share information so we might all do a bit better. when I am wrong I try to post it right away, as was the case with the win 98 comment I had made. I understand that there is a strong bull case that says that Asia is overdone and on the mend and its a boom boom market and valuations don't matter and the new god is liquidity. My opinion is that none of the above is true... Asia can not be mend, because their governments have done next to nothing to fix it, valuations do matter because in the end asset overvaluations are inflationary, and i think we are at this point. house prices in our neck of the woods are running 30% above what they were just last summer, inflated in part by wall street bonuses.... I could be wrong, but if I am I am sitting on 44 points of profit (bought at 13 (at post split prices) sold at 50 (apsp) + the 7 points made since) and I would have no hesitation in going right back in... dogma and investing are uncomfortable bed partners I have found... I though I might post this to explain exactly where I come from and why....
