Let's see. I've been writing this column for about 2 1/2 years. And in that time, let's say I've gotten about 200 emails a day. So, that makes roughly 180,000 emails during my time at TSC.
OK, how many emails do I receive like this?Gary, I read your analysis where you recommended selling or even shorting XYZ. Well, let me tell you something: You are completely NUTS! And I do mean nuts not to notice that XYZ's technology will completely dominate the industry and turn fools like you into complete laughingstocks! I am currently long 4,000 shares and have made a lot more money than you will ever make in your pathetic life! So, go ahead and short XYZ, you idiot. You will live to regret it!Right, I get those all the time. Hundreds at least. Maybe thousands. Now, how many emails do I receive like this?
Gary, I read your analysis where you recommended going long XYZ. Well, let me tell you something: XYZ is a dog. It's going to zero. It's way overpriced, and you'd be a fool to buy it at this price, 50% of this price, or even 1% of this price. I'm short 4,000 shares, and have made a lot more money than you will ever make in your pathetic life! So go ahead and buy it, you idiot. You will live to regret it!And the answer is . . . zero! That's right, I've never received even one email like that. Why not? Well, first, we're a nation of believers. Even if it's against all rationale, we live vicariously through our stocks, hoping against hope they don't let us down. Which pretty much covers Chicago Cubs fans and Iomegans (IOM). Second, we're trained to be buyers not sellers. Buyers always have an edge. Buyers know where the bargains are. Buyers never panic and, in fact, savvy buyers buy into the panic!
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,769.90 | 1,341.52 | 2,906.44 | 19.83 |
Oil *
117.58
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DOWN
120.56 |
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10.43 |
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20.79 |
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0.64 |
10 Yr
1.98%
SPDR Gold
167.29
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-0.94%
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-0.77%
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-0.71%
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-3.13%
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