We are in the presence of greatness. We must acknowledge it and pay homage to it. We must glory in its strength, in its obliviousness to all that is around it. We must respect the power of this move.
If you haven't guessed which stock I am talking about, you haven't been paying attention to this market. The praise, of course, is for the beautiful work that
is doing in its run to -- I don't know -- 300? To 400?
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We own 2,500 shares of JDS Uniphase, a stock
Matt "B2B" Jacobs
brought to our attention during his Matt "Fiber Channel" Jacobs period. (Yes, that is kind of like
Blue Period, except it makes you more money.)
We can't part with it. We are too in awe of it to part with it. Of course, our scale method, where we sell a little bit at each new level upward, hurt us badly here. We expected a pullback where we could replace the stock we sold. We never got it.
When I see moves like this I am always reminded about how much better the individual can do than the institution. I am not rationalizing, but I could never have held on to a huge slug of this -- it would have been my whole portfolio. But it's possible, and I'm sure probable, that some individuals have caught this whole move, particularly those not inclined to take profits.
Lately, I have been getting pushback from the media saying that the do-it-yourselfers are outmanned and outgunned by guys like me. Yes, if you are trading. But not if you are buying and forgetting, which is what you had to do with JDS Uniphase.
? One go-go, the other as boring as
. Which one kills you more?
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long JDS Uniphase. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at
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