re: black oil - punters getting 'reamed' -grant I sailed right...

re: black oil - punters getting 'reamed' -grant I sailed right through 1999 and 2000 with no tech shares at all. Their fundamentals were so poor, they defied logic and I could not invest in them. Funny, that was Buffett's view as well, and he was roundly pooh poohed at the time. Didn't he have the last laugh. I stayed mostly in energy and regular stocks. I did really well.

I know several people who became tech converts. THEY GOT COMPLETELY WIPED OUT. Two of them do not trade at all now, so for them all the rise and fall of the current tech stocks with no fundamentals and, at best, marginally viable businesses, has not served them well.

Whatever sector you invest in, you must at least have some fundamental idea about what the company does and will it ever make a profit without issuing gazillions of shares. Sooner of later, with the wild tech shares, you are going to get the goose. WAKE UP before it is too late.