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Genworth Financial, Inc. Message Board

  • tilapia50 tilapia50 Feb 21, 2010 12:34 AM Flag

    Jim280zxt please stop

    Please stop monopolizing this board with your unilateral insistence to adopt a call-writing investment philosophy. Let's start a dialogue about GNW's fundamentals.

    You have plenty of disciples on this board, but you should all ask yourselves how much better off you would have been to have just stayed buy and hold investors along the way from the single digits, rather than constanly chasing the promised "dividend" built into the call premia. Jim is on record several times on this board calling near-term tops on the stock (including $2.50 for Jan 10 back when GNW was trading under $1 in March), but every step along the way he has urged us longs to write calls, and wait for the "inevetable" day when they will expire worthless.
    Those of us who are fortunate enough to be long GNW since those dark days have not been well served by writing calls on GNW.

    It's a good strategy for stocks that are treading water, but for the last 11 months, it's been a sucker's bet. And Jim's advice is costing you all real money--money lost buying back calls, and money lost in transaction costs.

    There is no free lunch, Jim. I fully expect you to repost some old posts of mine, and try to position a counterargument, but the truth is that it's been a winning position to ride this stock on the long side for almost a year now, and you know it.

    I don't begrudge Jim's investment philosophy, but he's been pushing it on the wrong stock for an entire year now. Just ask those poor investors who took his advice in March 09 to write LEAPS at $2.50. It's not often that an investor sees a 10-bagger, and Jim's advice has taken that away from many of his disciples.

    Just my 2 cents. Find a life Jim.

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    • All knowing, all wise. Jim, the tide has turned against you. Please ply your trade on another message board. Let us buy and hold investors enjoy our success free from your constant advice.

      It's not a sin to admit you are fallible.

    • Jim's is like Cramer 50/50 he called this one wrong. For anybody to be making trade decisions by the information posted on these boards should not be trading. If I would have listened to Jim I would be out 989% profit on GNW.

      Beat it Jim!
      Go C! Up 7%

    • hey noweed

      the nutcase also omits to mention the sale of sep $2.50 PUTS i also suggested for committed gnw bulls

      and just exactly WHAT did people BUY with the NEW FOUND cash they collected in the last year from their various cc sales on gnw and other positions they had.

      more SHARES of something paid for by the call buying gamblers who also won.


    • In hindsight I should of bought 1 year leaps for gnw back when the stock was 2.50. Jim just brought the benefit of options for some situations to everyone. You make your own decisions good or bad. Seems like this 2.50 covered call thing has been beat to death.

    • In hindsight I should of bought 1 year leaps for gnw back when the stock was 2.50. Jim just brought the benefit of options for some situations to everyone. You make your own decisions good or bad. Seems like this 2.50 covered call thing has been beat to death.

    • Jim,

      Just admit the errors of your ways, and move on to another board. You can't preach the wisdom of a 100% return and having your stock called away at $2.50, when a buy and hold strategy would have yielded 1000%+++, with still unlimited upside. As we toy with yet another 52-week high, the limiting nature of your CC strategy rears its ugly head yet again.

      Like one of your posters commented, your strategy would have left over $1 million on the table for the owner a 100k GNW position from the March lows.

      I don't need to read an options book to understand that that is bad advice.

    • I completely agree with your comment about jimbo.
      I suspect he leads a very insecure and sheltered life---thus he feels the need to become the "mayor" of a message board to fulfill his void in life.
      Its best to to place him on ignore---like I did weeks ago. Its amazing how much more pleasant the board becomes.

    • Back in March 2009 Jim was demanding that longs sell Sept $2.50 calls on GNW for 0.33.

      He can't admit how massively wrong hw was.

      I am with you. HE can do what he wants. However he tries to shove options down everyones throat.

      • 2 Replies to jkwelli
      • Read the last sentence on his above post again and again. Most of the regular long's here have a near zero or better cost average from selling covered calls. This positions ones psychology and basic math to hold a position and reap greater gains in the future while still making sweet income along the way.

        There was nothing wrong with his advice with GNW or other equities and it has been a great benefit to most sincere long investors. Underline sincere please.

        GNW has been trading strong this year for everyone's benefit. It certainly does not exclude a pullback in the future. Covered call sellers will care less as we are positioned accordingly. JMHO

      • jk

        a difference between suggesting and DEMANDING


    • hey til

      those who used a disciplined approach of covered call selling on gnw or other shares from the march abyss have done very well and have had signifigant downside protection on their investments as a bonus.

      and some may have never bought gnw under $2 WITHOUT the benefit of some options sales putting them in a profit position on day one when the whole market was in a freefall.

      if you dont want to read my posts..its simple..put me on ignore.

      as far as gnw fundamentals, that is discussed here often and frankly gnws own investors mkt updates and their conference calls pretty well address ALL the main FUNDAMENTAL ISSUES of the company. open up a topic if you think anything is missing.

      the stock IS going higher and will EXCEED its book value of $25.

      the only debate is the timeline between now and then.

      buy and hold has been fine on gnw.

      the major drawback of that is you never generated any extra cash to increase your gnw position or other opportunities.

      gnw is up about 7 time over the $2 buck chuck days. the LARGEST increase of any sp500 member for the last 12 months!!!

      those increases are history unless you think it will be $100 next year as well.

      covered calls make more sense now than at any time in the last year as we are entering the timeline with many retail investors are staring at major gains and they are passing their 12 month holding period for low tax profit taking.

      many here have positions in LVS,ATPG,C,CNO,HIG, RDN,SNV that unlike GNW have had signifigant drops from recent highs and covered calls have served them very very well.

      the premiums gained from their option sales has made it easy to roll up their gnw positions and enjoy the same gains on gnw as those who do not use options.

      a few like jax had gnw at $6 when they started using covered calls.

      well his gnw net cost is now $1 and he has $10 leaps sold against them now.

      a $9 pending low tax gain.

      he IS better off than just having done nothing and hoped it rose to the current $9 move from $6 to $15. the same $$ amount but he has a 10 bagger on his CAPITAL..not under a 3 bagger without options.

      many stayed IN gnw in the fall when it dove from $13.60 to $8.20 BECAUSE they had covered call option positions in place and BOUGHT MORE at those levels.


    • He does need to shut up.

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