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Friday, September 11, 2009 11:09:07 AM
re: "Street is always correct," no one is buying it.
There are many examples of both inflated and depressed stocks that the "street" evaluated incorrectly for months, sometimes years. Most of us make our best trading returns when the "street" is wrong. So we're all very attuned to the reality of false valuation.
Vis AAPL trading at $14 in late 90s when they had $13/share in cash in the bank. The "street" believed AAPL was going imminently out of business. Many "street" analysts vocalized that belief loudly. But with billions in the bank, AAPL had many years of cash flow to refocus the company and an addicted customer base that couldn't/wouldn't easily change brands. The "street" was dead wrong. And those of us who knew it made 20-35x on our bets against the "street."
I ask again, was the "street" correct about EESO when it had sustained price support at 0.02 last spring?
99.99% of all pinks are scams. Best to assume the other 0.01% are as well.
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