AJX Charting, page-5

it doesn't astound me - I have been in companies that traded far less than this - just drifting along - drifting along -

and, every person who spoke of the companies said the business was the absolute best.

Time dragged on - and, they paid dividends - very solid dividends - but, just kept dragging - when other stocks - including dogs were having solid gains. My position was so large that there was no way I could have got out in a hurry - unless off market - and, who knows how easy that would or would not have been.

I was in the top 20 of one - it took years to move the SP - but, when it did - it was a solid multi year move - and dividends all the way.

I even saw people sell out serious holdings - because they wanted to get into things better - well, I watched those 'better things'.

In the following years - the better things died in the pants - the positions were devastated - yet - the old boring non mover - just kept sending cheques - every half year.

Nothing astounds me - I have seen people with massive positions bought dead cheap - that, if they just did nothing - would be worth tens of millions (the positions) - and, they lost all - by ------------ doing things.

Jumping from one investment to another ---------------- 'opportunity cost' -------------- all bull.

The casino LOVES people who believe in 'opportunity cost' - indeed -the whole gambling business is built around people who like to keep moving bets.

Whole industries depend on it --------- casino's, brokerages, agents ------------- they LOVE movement.

And people fall for it hook, line and sinker.


Just know the business ---------- as best as you can.

If you know the business - and, you are sure ----------- you just can't do better.

To trust that others know better - in other words - to believe the herd ----------- is to enjoy the run over the cliff and the crash at the bottom.


Personally - I never trust the market ------- all I have seen is that the market is full of fools and followers - moving en mass like a school of little fish - if one thinks there is a risk and moves - the school follows.

Big fish take advantage of that.

Pinto