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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: Regeloney who wrote (6676)	11/12/1998 1:38:00 AM
From: nokomis	Read Replies (1) \| Respond to of 7247

Good morning Tim, Was pleasantly surprised to have stumbled on this thread about a week and a half ago - gave me feelings of warm and fuzzies..something I needed when I spend approx. 10 hours per day pouring over research and making a supplementary living out of trading...has it paid off? I think so...one tennis and two golf club memberships (north & Florida) to escape from the market and get the blood pumping again...my back usually aches from being hunched over my computer and they eyes are mighty strained. Do I regret it? Not for a minute. I am astounded, however, by the number of friends I have who hand over their hard-earned cash to financial planners who don't have the passion or commitment to do their best with my friends money. Why should they? So instead, what I find happens is that I get coralled in the corner of the tennis court, apres drinks, apres business meetings, at dinner parties and everwhere else by people who know what I do and ask for advice...because, in the end, they too know that they are not taking responsibility for their own futures and a certain panic is setting in. "Where should I invest?", "What are you following"", "What do you think of this conpany"..."how do you do it?"..."Where do you think the market is heading"...etc.etc. Does it make me feel good to share my perspective and thoughts? You bet it does..because they are so hungry...and I think that is what may have prompted you to start this wonderful thread...it feels good to reach out to people and let them know someone is willing to share the labours of their own DD, gratis. DD you say? What is DD? I tell them what I am currently feeling good about, a company I currently have a sizeable position in...they naturally ask why and tonight, after tennis, I told them the story of what transpired and the DD I had done on a certain company over the past two days...examined charts, called the company president for a ten minute conversation, called two analysts who had written reports on said company (forwarded by said company to me), spoke with the reporter who had the day before published an article on said company in a national newspaper, surfed the web for relevant data, called a brokerage house to confirm their position/trading recommendation, reported findings back to company president, emailed and sent faxes to to newspaper to clarify/suggest feature article, was interviewed by another reporter who featured story in today's paper, left telephone message with company president regarding results of competitive earnings report, faxed him a copy of said report retrieved from Yahoo News, (fixed mmy laser printer), after market closed called original newspaper reporter to fill him in on today's favourable activity (+18%)... (hoping for press coverage tommorw)...began and ended my day with intermittant visits to SI...read two newspapers' financials.....and more. And this, my friend Luke, is what you and I know to be true and exhaustive DD....but what do our friends do, hear, see, execute?? Not a lot because they have busy lives and they don't share the passion we do. All they hear is the name of the company we feel good about and then they call their broker...tonight I searched out a fella I had recommended a stock to three months ago to tell him I had taken profits and was moving on to something else...did I have to tell him? No, and he was even surprised I had...a sign of his maturity, I think. But I wanted to tell him because it felt good...just as good as it felt when I thought he might benefit from my views when I first told him about the stock. Funny, but my late Mom used to say "go ahead and set them up on a blind date if you think it will work..but remember, if it works out, don't take the credit - otherwise when it doesn't work out, they'll blame you. To those who wish you anything but the very best going forward, I ask them this: if you're an American when you enter the bathroom and an American when you exit the bathroom, what are you when you're IN the bathroom? (European!) ...the said can be true for visits to the almighty market. Keep in touch Tim and send me a message when you want to get back to work...I respect your work and would welcome some mutual sharing of DD.