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Technology Stocks : DELL Bear Thread -- Ignore unavailable to you. Want to Upgrade?

To: jbn3 who wrote (2365)	12/13/1998 9:29:00 AM
From: Geoff Nunn	Respond to of 2578

Bachman, Hank McNabb was a nice guy who deserved a better fate. He had a serious personality flaw though, IMO, which is that he was contemptuous of practically everyone's opinion but his own. Stock valuations normally aren't just produced out of thin air (castle-in-the-air theories notwithstanding) but instead are determined by the consensus judgments and opinions of a lot of informed people. Admittedly, this is more true of the large cap stocks. While these investors (mostly company insiders and institutional money managers) can certainly get it wrong, they're not dumb in the way Hank assumed. We have many good posters on this thread who tried to open Hank's eyes to his folly. Too bad for him he fell victim to the common mistake of thinking he knows better than everyone else. Regarding buy and hold, I have serious doubts whether it is possible to time the market. If David thinks he can do it, fine - maybe he can. I do feel that we should expect him - or any other poster who claims he/she can time the market - to state their forecast with sufficient clarity and specificity that it meets the test of refutablity. Geoff