To: Secret_Agent_Man who wrote (2325 ) 5/23/1998 3:00:00 AM From: RocketMan Read Replies (3) | Respond to of 11850
ROCKETMAN'S DISCLAIMER While I appreciate what Byron has done with this link, I need to clarify something to everyone. I am only speaking for myself, not for Byron or macker, so what I say may or may not apply to them although I suspect it does. I have said the following in bits and pieces over the last month, but I think I need to say it again in one place here, because of the number of PMs I get asking about this. Also, there are a lot of new people reading what I post, and they may not understand where I am coming from. I am an individual amateur investor with absolutely no official or professional, or even unofficial, connections to any of the companies whose stock I own. At this time I am down to only three companies: DGIV (by far my largest), ICVI (soon to be ME), and INFE. The reason I own stock in these three companies is because I have done my own DD from information available to anyone willing to put in the time. I heard about these companies initially from other amateur investors or from my own research, but I only bought after doing my own DD. I have shared what DD I have done with everyone else on these threads, because I believe in the power of the internet to share information quicly among individual amateur inverstors. This was not possible before the internet. We would have had to pay a lot of money to professional analysts for this type of information, and been at the mercy of whatever they may or may not have a financial interest in. With the internet we get the information quickly, but we have to do our own validation because what we get might be worthless. There are some investors on these threads whose DD I think more of than others, Byron and macker being my top two in terms of credibility. They go right to the source, and I have tried to do the same. However, this does not in any way absolve me of the responsibility to make my own investment decisions based on my own information and no one else's. I strongly advise everyone else to do the same. It is stupid to either buy or sell a stock based only on what I or anyone else is doing. In other words, we have to be responsible for our own decisions -- what a novel idea :-) I have bought and sold, through my own etrade account, a number of stocks this year. I am now down to 3, which I intend to hold unless the company's fundamentals turn negative. Some of my stocks have been winners, and some have been losers. My philosophy is that with risky stocks, such as are often found in the BB world, there will be more losers than winners. However, it only takes one winner to make up for a lot of losers. I cut my losses fairly quickly, and try not to fall in love with any stock. But if I like the company's fundamentals, I hold long and try not to worry about daily action, especially if I feel the price is manipulated by MM head fakes, naked short selling, hype or fearmongering by others, or similar tactics. That is why I intend to hold DGIV into my retirement, and barring something unforeseen I will also hoild ICVI and INFE. However, whether I buy, sell, or hold is my own personal decision and I am under no obligation to anyone except my wife as to what I do with my own money. I have never hyped a stock, nor would I ever want to. I share whatever DD I do, and its quality is good, bad, or mediocre, decide for yourself. But I try to base it on facts rather than emotions. However, I do tend to get emotional when the price goes way up, which may be confused with hype. To summarize, I have no desire to tell anyone how to invest their money, nor am I qualified to do so. I only invest my own money and no one else's. I choose my stocks based on my own DD and not because anyone else is buying or selling. I hold long stocks that I like, even if I have temporary paper losses. I cut obvious mistakes quickly, without worrying about taking a loss because one winner makes up for a lot of losers. I have no desire to ever change this, and I advise anyone who reads what I post on these threads to keep this disclaimer in mind.