Forum Archive Index - October 2002

[Phaedrus <Phaedrus@techemail.com>]

Lyall,
      The fundamental merits of CLI have been evident for some time, have they 
not? Investors could/would have bought it years ago on this basis. Many will 
still be holding, encouraged by the steadily improving fundamentals. In two 
years these poor sods have so far lost more than half their investment.

  Short-term share prices might have no relevance for Warren Buffet because he 
buys companies. You and I buy shares, and the price we pay for them is VERY 
relevant. It directly affects the magnitude of our gains and losses.

  If the shares of a stock that you consider to be a "wealth machine" are in a 
clear prolonged downtrend, it means one of two things. Either the market is 
wrong, or you are. Maybe you know more than the market. Maybe the market knows 
something you don't. Whatever the explanation, the longer you delay your entry, 
the lower your entry cost, the greater your profits if you are right and the 
lower your losses if you are wrong. 

 Take another look at the chart - it's trying to tell you something. It's been 
saying the same thing for a long, long time now. Wait.

         Regards,
                   Phaedrus.

 

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