RE: RE: Yield-Driven, Not Value-Driven"I got fully-invested in NHC" means I brought my holding in NHC up to my limit on "one position". I own many other things, any one of which could go to zero and I would survive just fine.
In other words, Capharnaum, I agree with you. I may be a Rube but I am not stupid. I also have never gone to a casino and do not buy lottery tickets.
What I am saying is normal profit and PE analysis doesn't always work in these markets. I am trying to think about what might happen in a couple of different ways and consider the unexpected. If I had done that, I would not have sold Teck Comminco at $6 on the way up, or Brookfield Properties at $8 on the way up, or ICICI Bank at $16 on the way up. (I told you I was a Rube.)