🚀 go-pugleaf

Larry <noone@home.com> wrote:

>I was kidding to make a point about iPhone 4 and duct tape, which is 
>hilarious.

I was not kidding to make a point that some of the best investments are the 
non-sexy companies that have sure and steady product lines.  3M is one of the 
best.  Apple...well, let's see how they do now that CR is not recommending the 
iPhone.  


>I'm a daytrader, myself.  Steady and consistent winners and great 
>performers are for company officials.  I want 'em to CRASH, HARD, so I can 
>buy 'em cheap, like Wachovia at 98 cents, [....]

I stuck with way undervalued profitable companies such as CBS, which was still 
doing ok even in the darkest times and didn't deserve to see its stock sink to 
less than $3.50 a share.  So, I bought it.  It's back on track.  I expect it 
to break $16 in a few days.  

I was going to do the same with Citadel Broadcasting, the former ABC Radio, 
because it had sunk to 1 cent a share when it was de-listed.  I knew that the 
assets of the company were easily worth about $10 a share, even with the heavy 
debt load.  And those who bought at 1 cent saw their fortunes grow at least 
5,000% in a few weeks' time.  I didn't buy it because I knew they would 
eventually reorganize and kill the stock, which they did.  So, lots of poor 
suckers were left holding worthless Citadel stock.  The problem was in knowing 
exactly when Citadel was going to bite it.  The bankruptcy court wasn't clear 
on it or I would have joined in and bought some cheap stock.  


>I once owned 185,000 shares of Worldcom when it was 7c/share.  I chickened 
>out and dumped it at the bounce to 22c/share.  

I never regret selling at a profit, even if the profit is slim.  As long as I 
make more than the cost of the trade in and trade out then I feel that I've 
accomplished something.  Greed is what kills most stock speculators.  Also, 
the idea that something is a once in a lifetime deal.  There are once in a 
lifetime deals every day.  If I miss one there'll be another along in a few 
days or a few week.  I can wait.