Well...Cheerleader(s).....hmmm.Matt, there you go again :) Oh well, this is the first time Iwatched the management of a company put their own money in the company as muchas our CEO's and others did. They were not able to disclose everything tous, but money talks and I try to listen. Unfortunately, I ran low on money over the years, otherwise Iwould have bought much more than I did when we fell below 30, 20, 10cents. An 80 year old man once told me to always keep some dry powder andif it falls so much, buy more, and if it falls a certain degree more, thendouble down (that is if the fundamentals have not changed). I ran out of dry powder but knew I had to buywhat I could at the lower prices. With the economic collapse, Ifelt chances were very good we would not soon see the 75cents to a dollar for along time if ever. These guys worked their assess off for years, I’msure they are tired, and I'm sure if they could get the resources to make it ontheir own they would if they felt they could fight off the emerging competition(notice in Georgia how we saw 5 or more companies bid on the 6C tags includingone company from Germany). Like anyone else, they are not perfect butthey are good people. When it comes to CEO's and Presidents, many are narcistic.I'm not saying that Norbert or Wolfe are – I don’t know them that well - but I think the chances are good that they carrya degree or more of narcism like many leaders do; and I do not think they aresociopathic – or at least carry a high degree of sociopathy as Machiavelli anda large majority of politicians and world leaders do for example).Although their interests and motivation might at times appear selfish, theseare the personalities that believe in themselves, have vision, and are able to motivate others and get others to invest inthem and their company. They are the personalities that sell our productsand services and keep free enterprise strong – of course unless we get too manyin an organization or country that are sociopahtic that carry the country ororganization to rubble.
Times are tough and might be for many years to come.The 2008 financial crises was not just a flesh-wound but a large and world widesystemic wound (notice that even China came out a couple of weeks ago and hadtheir banks stop lending for a month as they are now concerned that their banksmight have over extended their real estate loans). Sirit’s managementcould only do so much with the resources they have access to. I gaveup blaming other people for my inadequacies many years ago. I try to lookon the brightside of people, take them for what they are, and do what I can towork with them and make my way for myself and my family. . I knew ofNorbert’s integrity when he said he would invest $600,000 of his own money ataround 90 cents a share and did not. Ithen read about his past and still chose to stick with him. I couldhave got out but chose not to as I still believed in the company withrelatively stable revenues and its large prospects for the future. This was certainly no fly by night company ormanagement. I honestly don't believe management areselling us out. If Sirit is worth more than 30 cents, someone else willcome in and up the ante. And I do believe it will be in the bestinterests of at least another company or two to do so in order to survive withthe emerging competition. I believe the chancesare good they will do so. If they don’t, I’ll take the 30 cents, takethe knowledge I’ve gathered, and move on.
The economy sucks and might for another decade or more – whoknows. However, with every situationthere are opportunities. I do know when Japan’s economic bubble burstin the 70’s – for whatever reasons - theirstock market collapsed and traded sideways for a decade. The USmarket and most likely most others did the same. I’ve lost a lot of money trading stocks whenthe tech bubble burst and I was very naive.I’m thinking in the years to come, with the market being relatively onthe low side and trading sideways, the years to come will provide an excellent opportunityto follow and trade a select number of stocks.I’m not going to jump in head over heals being only half knowledgeable, butam going to do a lot of reading and learning (per Grace Slick – “Feed your head”and per ??? “Knowledge is Power”) and allocate a much smaller portion to mytrading efforts than before. I knew an80 year old man years ago who would sit in his chair with his oxygen tank onone side and his ashtray on the other who made a killing trading stocks up anddown. He chose good solid companies suchas Apple, Dell (at the time was good), Intel, Wells Fargo, Citi, and about 15or so others that he would chart and watch from his chair all day long. He would take advantage of market inefficiencies.His daughter who lived with him acknowledged that he did make millions tradingstocks. I don’t know for sure but Ibelieve he did. I do know his grandsonthat lived with him was a mathematical genius at a very young age and was acceptedinto MIT at a young age. I’m not intoplaying poker but I do find the possibility of making money from my chairfascinating. I also believe in hope.It would be safer to invest in more rental properties or real estate orperhaps another type of business but I’m almost 52 and don’t have the energy formanual labor I once had. Although I am goingto keep looking at the local real estate market and if I find the rightinvestment I might jump on it.
Anyway, I like what Cussy said – “The best things in lifeare not things”. I will rememberthat. It kind of goes with – to paraphrase– “Seek first the kingdom of god within and all other things will follow” (Ifanyone knows the exact quote, please tell me what it is).
Now, come on Neology, Roper… and raise the bid!!!!! Maybe even a wealthy VC with Kong balls(actually no pun intended – VC?, Kong?) to inject some big bucks our way?
P.S. Can anyone recommend any good up to date bookson trading that helped you succeed in it – if you are successful - and possiblyrecommend any on-line forums that discuss trading stocks, or as a group followstocks to trade? If there are no forumsthat follow volatile stocks and as a group discuss when to buy and sell,perhaps we should start one? (Certainly,we would have to pick stocks that trade millions or perhaps hundreds of millionsof shares per day, otherwise, we would be subject to telling others to buy whenwe were ourselves selling).