The message I left in last post (indicated) that YOU, Mikem, and I are "longs" (probably some of only a few posting here), and that MRenthuse appeared(JMHO) to be a "short" by commenting on "rumor" of FRX buying part/all KG. We three are being hit upon by many more "shorts"...if there are other TRUE longs, identify yourselves, if you wish. Thanks
This is my first time to post, but thought it might give some of you longs a boost. I bought 1,000 shares of UAD in 1973 or '74 at 2.00/share. I recieved a 10% stock dividend per year until they sold to FRX and received 1,367 shares of FRX for my UAD stock. I have sold a little and bought a little over the years and now hold 104,000 shares of FRX which today is worth over 10.5 M. Plus, I have bought two Mercedes with the sale of FRX stock. Not bad for a $2,000 investment. I'm telling you this to illustrate my point that if you have a winner, stick with it. I consider myself an investor rather than a trader and I think it is the only sure way to make a buck in this crap shoot.
I say this in all sincerity Warren would be proud!! Hopefully you willingly never lose to much, due to the unwillingness to pay taxes @ some pt. Just curious is this the only stock you've accumulated that has treated you this well? It only takes 1 like it to make investing worthwhile.
I seldom post, but hold a good long position and in the years to come you'll do pretty darn well idea. Here is a little side note that conforms to hanging in forever on the positions that are heading north, ---FRX. Not wanting to sell at a loss is understandable. But a month or two ago, I heard about/or saw an interview with the economist who won the Nobel prize (or some similar award like that). He won based on his findings that holding losers was statistically the wrong thing to do. That the human tendency is to sell the winners and hold the losers. But actually the best long run strategy he discovered was the opposite. Hold the winners and sell the losers. It is clear to me that FRX is not one of my losers, since I've been with it since 1981, adding to the position little by little (no really big money/a couple hundred dollars, every couple years). These little moves up and down here are really nothing when you look at the big picture. Splits/continued growth...... shorts you may be in for a long, slow, painful ride. IMO
My cost bases is near these daily moves, however, I do have stops placed with some room for the stock to roam abit. Keepers Long, long term, Shorts, Short term, it's not that tricky. LOL
I'm adverse to shorting any stock. It's a weird morals thing with me - like joining a Dead Pool. I'm a longterm long for King (originally a Medco Research man), and have no interest in Forest - positive or negative.
I came here strictly on a "fact finding" mission. I'd like nothing better than to return to the KG board and tell the rumor mongers that they're all wet.
Can I take from the tone of your responses that the rumor is both false, and not favorable here on this board?
Please and thanks!