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From: | "Martin Ryan" <martin.ryan@slingshot.co.nz> |
Date: | Sat, 11 Oct 2003 12:14:58 +1300 |
You're a big man snoopy. On ya. -----Original Message----- From: sharechat-owner@sharechat.co.nz [mailto:sharechat-owner@sharechat.co.nz]On Behalf Of tennyson@caverock.net.nz Sent: Saturday, 11 October 2003 11:53 a.m. To: sharechat@sharechat.co.nz Subject: Re: [sharechat] Snoopy & Noah's Ark Hi Morgy, > >A classic re your posts recently, call it what you want , your >investment strategy was exposed for the "hobby" that it is. As >Phaedrus says, he has done this for years with you, exposing your >blatant weaknesses, based on dogma, you really would have fitted in >well with the communists, they don't like making money either. > Well well well. Some interesting thoughts here. I'll take your 'investment strategy as hobby' comment as a compliment. There is certainly no need to be hunched over a computer screen all day when you invest as I do. It was never my dream to have 'investing' completely take over my life. I realize some traders thrive on intense hour by hour minute by minute involvement, and good luck to them, but this is not for me. Still, everyone to their own. As for being based on 'dogma' well, yeah. I try to remain faithful to the general principles espoused by Buffett. As to 'weakness' in my investment strategy I'm not sure what you mean. Sure I've made some bad calls over the last three years, but I have recovered from them. Making bad calls is actually part of investing. If you can't stand to ever get something wrong, then put your money in the bank. The secret to successful investing is to make sure your good calls more than outweigh the bad ones. Having Air New Zealand in my income share portfolio was probably the worst call I made. But I transferred that money into Scott Technology and I have more than recovered the losses. Even the worst performing share in my income portfolio RBD, I am cash flow positive on. Overall my income portfolio is up some 60% over the last two and three quarter years. Hardly a disaster. > >Your credibility in the last 3 years has dropped to the levels of your >posts re RBD recently, even people who profess to minimal financial >literacy are having the belief to tell you, you are wrong !. Common >sense dictates so. > Unlike most things in life, successful investing is not about popularity. The only guarantee is that if *everyone* thinks it is a good idea the chances are that particular investment is well overpriced already. Part of being a contrarian investor is putting up with other people telling you all day and every day that you are wrong. Not everyone has the temprement that can stand this. I'm interested in specific criticisim's of RBD (for example), and will respond (and have responded) if people bring them up. But generally the more people who disagree with me on this forum, the more confident I become in my own strategy. > >I spent considerable time going through your strategy , almost point >by point, your only reply was that Phaedrus had said the same thing or >I think to paraphrase your words, had beat you up about that x many >times ago. > You are back to RBD again aren't you? I can assure you that RBD is an important, but only a small part of my strategy. RBD has taught me to be very careful about interpreting the PR put out by management. That is a valuable lesson. Overall, and without the benefit of hindsight, I have not regrets at all about being an RBD shareholder. It has been a valuable experience. > >The question I ask you in all sincerity is, are you stupid ! , have >you learnt nothing in all this time. > Yes. I have learned that RBD is a far better buy at $1.25 than $1.75. And I have acted on what I have learned. > >People come on to this board and pass you by, once your limited >skills are learnt. There are stock screens on every financial web site >that can pass on the info you have without falling in love >with the stock like you do and losing all that money. > If you think my investment strategy can be replicated using simple stock screens you haven't been paying attention. Repeating your false mantra about 'losing all that money' doesn't increase the credibility of your position. Even Phaedrus has admitted that taken on a case by case basis only around 60% of his trades give a positive return. So do you criticize him for 'losing all that money' on his other trades? No, because it is the overall result that counts, not what happens on each individual transaction. > >but more importantly disagreement, >questioning, ideas, shifts of thinking, this makes a healthy site. > Ah., so actually you do enjoy Snoopy disagreeing with you after all ;-) > > I sign off here forever, thank you all for my education. > It will be all our loss Morgy. Even I have enjoyed our pithy exchanges. I hope you will change your mind about going. Having another Australian correspondent would be good for this site. All the best for the future in Oz for you and your kids. SNOOPY -- Message sent by Snoopy on Pegasus Mail version 4.02 ---------------------------------- "Dogs have big tongues, so you can bet they don't bite them by accident" ---------------------------------------------------------------------------- To remove yourself from this list, please use the form at http://www.sharechat.co.nz/chat/forum/ -- Message scanned by the Sheriff ---------------------------------------------------------------------------- To remove yourself from this list, please use the form at http://www.sharechat.co.nz/chat/forum/
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