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Had a chance this morning to pull up with John Gasaway, ESPN's resident bracketologist for the NCAA tournament. I wanted to know the biggest mistakes people make in filling in brackets for the tourney.
One word: emotion.
Whether it be rooting for your alma mater or betting on a hometown team, it's just the easiest way to lose. Warren Buffett is not going to pay you $1 billion if you get all the picks right in your bracket. I immediately felt badly. I have been rooting for Villanova for years and went nuts in 1985. Debated having Harvard go to the Sweet 16 before I realized my emotions were ruling me and I would be a fool to do so.
Which brings me to Plug Power (PLUG), FuelCell Energy (FCEL), Ballard Power (BLDP) and the marijuana stocks that have captured speculators fantasies and caused a huge amount of froth in their own right. I recently did the deep dive on these three and actually ventured to say some critical words on air about them. No sooner did I do that, then the haters broke out of their fools' lair and came after me with everything they had. These were their stocks and how dare I criticize them? Didn't I know how much money was made in them? Did I really think I knew them?