Thank you Dennis. supadupa, listen to him.
Also, I have copied my post #14931 below, as these thoughts have repeatedly surfaced on this board, and have been around since man created the first markets. :)
Supadupa, I also must comment on the following from your post:
"Bushnell is known to have interests in stocks and making money in stocks. If he is able to control a stock legally and then jump out like he did with atari, then you have to wonder about his history. I'm sure he is serious and all but he worries me a bit as he is NOT about the stockholder - just himself and his family. Any thoughts on this?"
This is absurd!
Firstly, from my understanding, Nolan started SHORTING Atari AFTER they treated him like shit, he got booted out, and realized that they had no clue what they were doing. This was AFTER Atari became a billion dollar company (or close to it). AFTER Nolan grew the whole thing with his own people. He was probably devastated when he found out that Time Warner (the company that bought Atari) was run by a bunch of morons and ran Atari into the ground. If anything, at least Nolan profited from his own company's demise through shorting. How perverse is that? But you do what you got to do...
Secondly, do you understand that Nolan, his family, and probably even his close friends are "ALL IN" with this company??? If I'm going to make a huge bet on a company, it's going to be one where the owner risks his OWN money on the line. The fact that so many people dependent on Nolan are also in on the company is HUGE! It means if uWink goes down, not only do all us stockholders go down, but Nolan, his family, the rest of the management team..they go down worse.
Even if he did want to "jump out" of the company, he can't.
Think about this supadupa. I hope it makes sense to you. It's very important to understand what is going on here.
-uNintendo
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Post #14931 copied below:
BadMutha and scandalls (and all), here is something to ponder:
Whenever I start to psychologically "freak out" about these crazy price fluctuations in a stock I'm following or holding, I try to remember the story of "Mr. Market", by the legendary Benjamin Graham. This is taken from his classic book The Intelligent Investor:
(*Note for those who have not heard of Graham or the book- Benjamin Graham was by far the most influential person in Warren Buffett's professional life. The Intelligent Investor was truly his investing bible.)
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"Let us close this section with something in the nature of a parable. Imagine that in some private business you own a small share which cost you $1,000. One of your partners, named Mr. Market, very obliging indeed. Every day he tells you waht he thinks your interest is worth and furthermore offers either to buy you out or to sell you an additional interest on that basis. Sometimes his idea of value appears plausible and justified by business developments and prospects as you know them. Often, on the other hand, Mr. Market lets his enthusiasm or his fears run away with him, and the value he proposes seems to you a littl short of silly.
If you are prudent investor or a sensible businessman will you let Mr. Market's daily communication determine your view as the value of your $1,000 interest in the enterprise? Only in case you agree wtih him, or in case you want to trade with him. You may be happy to sell out to him when he quotes you a ridiculously high price, and equally happy to buy from him when his price is low. But the rest of the time you will be wiser to form your own ideas of the value of your holdings, based on full reports from the company about its operations and financial position.
"The true investor is in that very position when he owns a listed common stock. He can take advantage of the daily market price or leave it alone, as dictated by his own judgement and inclination. He must take cognizance of important price movements, for otherwise his judgement will have nothing to work on. Conceivably they may give him a warning signal which he will do well to heed--this in plain English means that he is to sell his shares because the price has gone down, foreboding worse things to come. In our view such signals are misleading at least as often as they are helpful. Basically, price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal. At other times he will do better if he forgets about the stock market and pays attention to his divident returns and to the operating results of his companies."
...
"The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored. He should never buy a stock because it has gone up or sell one because it has gone down. He would not be far wrong if this motto read more simple: 'Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.'"
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IMO, "Mr. Market" is currently delusional, and is offering his interest in uWink at a ridiculously cheap price. However, some of us are already fully invested in the company. So there are simply two choices for those of us who believe in uWink:
1. Buy, buy, buy! (slight alternative is to get in on the secondary offering if you can)
2. Simply ignore Mr. Market, and wait until it is so highly valued (perhaps $10-15/share within 6-12 months) that you would finally consider selling him a portion of your interest in the company.
A final note- I am sure that many of you are familiar with this story. Still, it is very easy to be swept away by the psychological mania of the markets, especially when you visit a board like this every day. So I hope this helps some of you to remain calm for the next few weeks (until the offering goes through) and for the next few months (when we finally get some of that juicy PR that we're all hungry for!).
-uNintendo
AI
