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  • bad.ass1029 bad.ass1029 Jan 14, 2012 3:24 PM Flag


    I've been doing this awhile myself. I used to be a broker and used to work for NYSE firms. They told me time and time again NOT to buy the cheap POS stocks as this would cause me the most heart ache! Until I worked for one of the best.......Ernie Olde (died a Billionaire). I actually placed trades for his personal account.....! He never had a position of less than 100k shares or of a stock much more than a $1.00 per share. He usually kept 15-20 stocks (Nasdaq) in his portfolio. He said: "all I need is 10% of my picks to work out and the rest could go to (0) and I'll still end up with a portfolio that out performs EVERY average on any index EVERY year"!
    He was the smartest and richest man I ever met!
    And he was 100% right. Another thing he used to say is: "don't watch 'em all day or listen to anybody else's opinions.....! Do your own DD and go with your gut"!

    Sound familiar?

    In closing, I got sued six ways to Sunday listening to the guys who said..."buy the good companies-expensive stocks". When the market dives they go down too......the people who buy them don't expect it because "they're quality stocks" so they sue......period!

    It's the only way to go - POS stocks. Unless you like average returns. AAPL's only happen a few times in a lifetime. The next AAPL is trading somewhere right now below $5.00. That's what I look for.

    Buy low and sell high....... Sell your losers and keep your winners.

    KISS keep it simple stupid!