Macdunk said:
<<The ta fa debate everybody talking nobody
listening with the few so called Intellectuals having the stage to show how
smart they think they are>>
Who died and
made you Pope Macdunk? May I suggest the "delete" key
provides salvation .
Woody, you have said you dislike ad hominem,
and yet use just this with Snoopy. Incidentally, Apple
Computers has been my most successful investment this year. I bought in
February for USD13, and have just sold for USD23.50 because I needed the money
for something else. Snoopy is right- fundamentally it had an attractive
line-up of products, a fine balance sheet with more than $4 billion in
cash and short-term investments, and virtually no debt for a company that had
a market cap of $5.6 billion. Even though I look at the charts, this is what I
based my investment on.
Obviously you are a true
chartist Woody, who doesn't care to know what business a company is in as
long as you can study its chart. Fundamental information on earnings and
dividends is considered at best to be useless- and at worst a positive
distraction. For this reason many chartists will not even read the business
section of the newspaper!
You might have heard of John Allen
Paulos, author of A
Mathematician Plays the Stock Market. He cites John Maynard Keynes,
who said that stock picking is akin to a beauty contest, where the object
is not to choose the prettiest woman but to choose the woman who others think
is the prettiest. Investors must anticipate, Keynes wrote, "what average
opinion expects the average opinion to be." (This is the theme of many
TV shows). But Paulos points out that guessing average opinion is not so
easy.
See IRG research reports
