An Earlier Post From Tim Chow Shek McCrack...This bears repeating, and is heartening to us faithful, good, light loving longs... Btw, Tim, it'd be nice if you slid off the rails once and a while like the rest of us rather than being so damned measured and sensible all the goddamned time ;)
"From experience I have learned to ignore anyalyst price targets and ratings. They tend to typically be self serving depending on their positioning.
So I ignore them and be my own anyalyst.
I always laugh at Cannacord ... in August 2015 Concordia Health was trading at $100/ share and Cannacord had a 1 year price target of $125/ share ... some of you may already know but today Concordia trades at $1.49/ share (and no that’s not a typo) ... so that’s about as much faith as I have in anyalyst.
I am am a big Jim Cramer fan he is my favourite market educator, I listen to his podcast everyday.
People think his show is all about stock picking, but it’s not, it’s about educating and teaching people how to do their own DD and be able to pick stocks of great companies and make money over the long term.
His show from August 10th, 2017 is one of my favourite. Look it up and listen to it if you can, here are a couple quotes ...
he says “years and years ago when Karen Cramer was running the trading desk, Karen who had no formal training whatsoever, did not go to Harvard business school, was not a computer scientist from Stanford or whatever, told me something really important, she said sometimes you need the discipline to hold on to the stocks of great companies. The hardest money to make was the kind of money made when the big time hedge fund managers came on tv and told you sell or short companies that were about to have fabulous runs”
Jim says “she would put it to me right in my face and say, you listen to those rich people who come on air and tell you everything is too expensive. You know what? They’ve already made their money. We’ve got to find winners and stick with them. Stop listening to others and start listening to yourself. If these stocks go higher and you let them scare you out of them, you know what should happen you should be fired. Bottom line listen to yourself. Do your own work but understand it takes a ton of discipline and conviction to own a Facebook or amazon or Apple through these runs and you aren’t an idiot if you do”.
Anyways his shows are good for anyone that likes stocks in general or is interested in learning more.
My point here here is I don’t care if you sell, hold, or buy, but at least make your decisions based on your own knowledge and homework."