Replies to This Discussion

Permalink Reply by Two Dogs, Pirate on November 21, 2008 at 12:56

Buy more now while they are low. Sell later or keep them for the long term. All this day trading has got us into some of the mess we are in now.

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Permalink Reply by Henry, Landowner on November 21, 2008 at 16:30

Warren Buffett, the Sage of Omaha, once wrote: "To invest successfully over a lifetime does not require a stratospheric IQ...." Jim Grant wrote: "I have given this matter some hard though. Not only does a sky-high IQ not guarantee success, but it also could pose a danger, not only to the genius' own net worth but to the safety and wealth of others. I therefore urge the relevant regulatory bodies of the United States and Canada to incorporate an IQ test into their securities licensing exams. There would be no minimum passing grade. But nobody would be allowed to work in the financial markets in any capacity with a score of 115 or higher. Finance is too important to be left to smart people."

The Wall Street genius' who invented "financial engineering" transforming junk debt into triple-A gold and made tens of millions of dollars selling it all over the world have just about sunk us. My only hope is that there may be enough with limited IQ, like me, to save us.

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Permalink Reply by Bobi Carr ("parker") on November 21, 2008 at 17:15

KB,

NPR had an interview with the author of "Outliers" yesterday. One of the things he mentioned about Bill Gates was not his intelligence but the "good fortune" of attending a high school that had a computer lab better than most colleges. But he also commented that Gates used his high IQ together with his "luck".

Reminded me of the saying, "Good luck usually is found in the vicinity of hard work".

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Permalink Reply by stroud on November 21, 2008 at 17:29

bill gates mother was on the board of IBM............that will boast your IQ

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Permalink Reply by The_Baron on November 21, 2008 at 17:56

VSC,

You have already lost your a**

Might as well hold on. Everything is down. If you can afford it, hold. Over time everything goes back up. Hopefully they don't go bankrupt.

Remember you only lose money if you sell for less than you bought for. Every thing else is just paper loses.

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Permalink Reply by VSC DeSoto South on November 21, 2008 at 20:01

I know you are right.
If I lose it then I learned an lesson.
On the risk tolerance pain scale, I am at 7 out of 10, lesson, not a 10 but painful nonetheless.
I just don't want to be riding the thrill ride when it crashes into the pavement.
I was thinking amatuer stock investor I am, of selling costs me much less to sell right now throw the money into something safe (lol), then watch very closely, when they start creeping up and stabilizing, jump in again.
I was not too concerned until they went below 15 and 20.
Is that crazy...I am not trying to time the market...just get off before it leaves the tracks altogether, then when the ride slows down, ride again, before it gets to the top.

I wills tick to mutual funds, I am much better with those, more diverisified.

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Permalink Reply by E. Parks on November 21, 2008 at 23:24

And people wonder why the lease bonus craze is over. Little wonder. These neighbor associates, in my opinion, have done a huge disservice to them selves as well as their friends and neighbors by telling them to "hold on, don't sell, things will get better". This has been the message throughout the summer when bonus prices were good. Most of these association heads were not in the business, knew nothing about how these boom and bust things go in the oil/gas business.

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Permalink Reply by Grice on November 22, 2008 at 2:55

E.Parks, after reading your post, I went outside and stuck my finger in ground. I could still feel the gas under the surface, so I assume not all has been a total loss.

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Permalink Reply by Snake Stewart on November 22, 2008 at 3:04

Hey Grice, I stuck my finger in my ear and I didnt feel anything. Is that good or bad ?

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Permalink Reply by VSC DeSoto South on November 22, 2008 at 4:10

Well I see my gas under my land or my 640 acre unit whichever comes first as a given. It is either produced and we get 'extra' money or we don't. My family signed the lease 'a nice one too' in retrospect. I leased with SWEPI, they can weather a downturn in the US economy with no problem and they have level heads. Not too worried about that, i just want them to mosey on over to my area a littel faster.

How i navigate my stock predicament I can control though.
Not sure I have the stomach to ride this out.
I watch Aubrey and I want to know what he is smoking, sniffing or whatever.
It does not build confidence that the man sold all of his own stock.
I should be selling too, if the founder/owner has sold all of his.


I guess I need to do the math and the research and see if the stock price is in line withthe actual financial statements of the company if everything is in line or if the stock price is low in relationship to the actual value of the company and the current economic times.
Can CHK and PK weather the storm? Are they attractive enough for a larger, better funded company to buy them before they go bankrupt, and not leave the shareholders with nada?


This whole being an adult and informed citizen thing, is not always easy and fun.

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Permalink Reply by Grice on November 22, 2008 at 4:28

VSC, when considering McClendon's stock sale, you might want to consider the entire situation. First, he did not sell "all" of his stocks. He still holds a substantial position. Secondly, he did not sell due to a lack of confidence, it was simply no option for him. Unless he extended himself even further, to cover the loss, it was out of his control. Mr. McClendon has been known to be a bullish investor. Sometimes that works, sometimes it doesn't.

Both CHK and HK are positioned well. Although liquidity is falling, they have retained their overall value. I can not advice you what to do, but merely offer a suggestion. If you have not diversified your portfolio, now might be a good time to do so.

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Permalink Reply by Two Dogs, Pirate on November 22, 2008 at 6:20

CHK went from $60 to 75 cents in 1997 & 1998.

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