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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (32148)	9/4/1998 3:16:00 PM
From: Knighty Tin	Respond to of 132070

To All, Citicorp is now, at $90 1/2, officially closer to its 20 year low of $9 than it is to its all-time high of $182 hit a few months ago. This is important for several reasons: 1. I'M MAKING LOTS OF MONEY ON IT. -g- 2. For those who ask why I don't just play stocks that are going up, whether or not they are pieces of crap, (in other words, become a momentum geek or a TA twit) and then sell then when they go down, I have often said that sometimes they go down too fast. I think cci illustrates my point. And it is going down a lot slower than some stocks. 3. For the guy who flamed me on this thread after I recommended buying puts on cci in my article on IFC, "Beyond The Valley of the Dulls-Analysts," I have a question: still think I am a lousy analyst? He probably does. I just think it is great because he used cci as an example of how I was a worse analyst than the guys I was criticizing. Other than having a good laugh in his face, ha, ha, I think a more important issue is revealed by this situation. A good analyst and somebody trying to be a good analyst(which means, few on Wall Street and nobody on CNBS) tries to see what fundamentals are taking place and likely to occur at a company and then compute what valuation those fundamentals predict. The fact that others miss it and chase the stock to even more overvalued levels is not a criticism of the analysis. It can certainly be a criticism of portfolio management. But analysis is knowing about companies and their value, not predicting near term market silliness. 4. I am a stickler for the concept that all stocks eventually trade on their actual fundamentals. This has been a tough sale during the bubble bull market, but it is true, nonetheless. So, bright lights, dead Citi. -g- MB