Value Microcaps Motherboard

[Lazarus]

it is a difficult read - huh?

but then i find you a bit difficult to understand as well.

arent you the one who was wondering where in the heck i got these quotes from:

labor not to be rich (proverbs) he that maketh haste to be rich hath an evil eye and considereth not that poverty shall come upon him. (proverbs)

but hey - i will help you to understand what is going on in my brain.

i come onto ihub and read these post about the market is doing this and the market is doing that and yes, i suppose its wise to understand what the market is doing - BUT regardless of what the MARKET may be doing i look at the stocks i have bids in for and i view those particular stocks as being undervalued: period. i think the stocks im bidding are undervaued regardless of what the market is doing.

take for example EACI. i picked up a few more sharess yesterday at the ask since my long time GTC bid was not getting any action. i first started buying that stock in 98 or 99 and view it as being undervalued. i dont care what the market is doing with respect to this stock - i care what I AM DOING. EACI hasnt gone up in value since i began buying - in fact, its gone down more than up - but that hasnt changed my opinion about its value.

i learned along time ago not to invest on what others percieve as value - BUT ON WHAT I PERCIEVE AS VALUE. i remember a broker showing me a house and telling me what a good deal it was. i asked him, if it was such a good deal why he didnt buy it. then i asked him how long it had been on the market and he told me something like 6 months. in the end I DECIDED IT WAS A GOOD DEAL. i bot it with cash for 1k less than the asking price and put about 5k into it. and then refinanced it with an arm. i leased it out for two years and received rent at 340% of my payment. when the tenant moved out i sold it for 30% more than i paid for it.

the prudent real estate investors i know make money in ANY market. i bought a house last year when prices were very toppy --- but i bought it at less than 70% ltv. if you stick with 60 to 70% ltv or less, you're not likely to suffer.

these folks that are being caught with their pants down in real estate deals are referred to as INVESTORS. i would disagree. many of them are just stupid people with some money that are trying to GET RICH QUICK and its no surprise to me that they are losing $$$ money trying to make it.

there will always be speculative excesses and the the market will deal mercilessly with them.

enuf for now - i'm up early to get ready for a fishing trip.

Lazarus