Recent

% | $
Quotes you view appear here for quick access.

CE Franklin Ltd. (CFK) Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • sunwyboy sunwyboy Nov 1, 2005 12:15 AM Flag

    Earnings disappointment

    Has anyone noticed how the market has turned into a virtual casino?

    People buy stocks of companies that they don't even know what they do because it might go up a couple of bucks because some chart tells them so. Charts are like reading tea leaves and it is ridiculous to say they can tell with any certainty where a stock is going.

    Whatever happened to investing? Putting your money to work in a company because you believe it is a good business with a good future and you would like to be a part of that future.

    Look at the Dow and Nas and they have gone nowhere for so long. Investors have been replaced by short term traders looking for a quick buck. I'm not bashing anyone here just pointing out the change in landscape since everyone got on line and became their own broker.

    Personally I like to invest. I don't buy blindly or hold infinitely but I will stay with a company until the fundamentals break down or I find a better vehicle for my money. CFK is a good investment to me and I am willing to keep some of my money in them for the next 5-7 years as we continue in this oil/gas growth cycle. VLO, TS, NOV, ECA, NBR, and HAL are also what I believe are good investments today.

    I appreciate the discussion on this board but do miss the days when people bought stock as an investment and not some short term cash cow.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • An excellent post for a number of reasons.

      And while I've never exactly thought of the market as a virtual casino (though the analogy is apt), I've been referring to it as The Big Horse Room on Wall Street for umpteen decades now. (Several Marine lieutenants and I agreed on the phrase when we were non-paying guests at a military hospital and blindly gambling on stocks via mail to the states. Hot news to us back then was anything less than two weeks old.) So while I have occasionally held some dividend-paying stocks for a year or two, mainly I've been a short-term player because it's fun. And ever since the advent of internet stock info., I, along with others who pretend otherwise, have become an unabashed gambler, but a level or two upscale, I think, from the crap tables in Vegas (at which I'm no stranger), because with stocks one can play information and other investors' psychology as opposed to virtual coin flips. (e.g., my post yesterday about SVA, which has just produced close to 10G's for me). Overall, I agree that there has been a change in landscape, but not one as severe as you posit. I personally know many people who are in the stock market as long-term investors but not a single person (other than online) who's a short-term player like I am. Not one. Where are the marines when you need them?