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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: jbe who wrote (35450)	4/19/1999 11:28:00 PM
From: Edwarda	Respond to of 108807

Joan, you are correct about the traders and speculators--the worst are the people who do not recognize that they are speculating, what we used to call "taking a flyer." And it is true that even those skilled in financial analysis and in ferreting out information can still be slam dunked in a stock. Chuzz is a prime example of a first-rate financial mind; we first became acquainted on the BMCS thread and went on to discuss and argue accounting treatments and valuation issues on a number of threads. We are both knowledgeable investors. We both have been clocked in NETA. (Why do you think we are hiding in the closet? It's the flying debris that can kill!) It happens. There is an old adage that has been forgotten. Do not put at risk what you cannot afford to lose. Another is that a good company does not necessarily make for a good stock. Valuation matters, regardless of the "internuts." If all the good news is in the stock, it is unlikely to do well versus the market, especially an up market whose leadership has been narrowing. One has to anticipate, try to figure out where the next positive surprise is likely to come from and whether it will matter. Unless one is dealing BBs and other marginal investments, the problems are relatively rarely maniacal lying managements, vicious colluding analysts, and evil and greedy market makers. They are large trends that could have been spotted earlier, sometimes were spotted earlier and not given sufficient credence.