Vinny, I don't think bad management ruins a company, I think bad companies can only attract mediocre management and employees. Perhaps a subtle differences, but an important one. You can see it especially with an IPO, who are the management, who are the investors and underwriters? Bad companies even seem to attract poor investors, you see it a lot with pink sheet and BB stocks, and certain investments firms seem to only promote crappy companies.
I suggested you try to and use motley fool caps because first I thought it might help you with your investments.
I like that they show performance VS the SP500, and they only allow you to move in and out every 7 days. It provides an indisputable record of your performance in relationship to the SP500 and to 70,000 other posters. One can always explain away why your choices were bad, but having a record like caps provides makes it harder to escape reality. I think it makes for good discipline. Excluding companies that are going bankrupt, all stocks are good buys at some price, so where you buy and where you sell is critical. CAPS provides a record of where you actually bought and sold, a post is really pretty vague, most people only claim they like or don’t like a stock, then provide some sort of justification.
It also easier to prove whether one has a good performance or a poor performance, it’s hard to argue with simple math, either you make money or you lose money. CAPS provides this sort of record automatically without having to do any other work or argue with posters.
One need not know a whole lot about most companies, if you have to keep digging into the company to understand it, then it’s likely not a good investment. I would suggest that at a certain point the more you research a company, the worst that investment is.
Yes, I didn’t care for PGNX, I owned GTCB a long ago but was always concerned about their business plan and then I turned very negative on the stock years ago. I did post a number of times about GTCB on raging bull, my last post in 2009 was before the split where I said a buck was the top and it would be a slow fade all year long. Not sure if IUHB allows links to other BB, but go to RB and put in GTCB symbol.
Motley fool caps is the only place I post that has some sort of longer time record. When I said I sold all stocks, I said they were mutual funds, not individual stocks. Actually all mutual funds, including the bond type funds, I sat in cash till 2009. I wasn’t certain what was going to survive; it was such a crazy time.
BTW in Nov 2008 my raging bull post on GTCB was dead set on. I said everyone would lose money on GTCB and they would get bought out by LFB. That was 3 years ahead of GTCB getting bought out.
03 Nov 2008, 12:01 PM EST
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But to be clear, the only prediction I make about GTC is that it gets bought out at some price and that all shareholders prior to my June prediction of at least 25 cent low on GTC will lose money.
Whether they get bought out at 10,15,25 or 31 cents I have no idea, but there is no reason for LFB to pay more that 31 cents, and no reason anyone else should try and outbid LFB.
take care
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I never liked ONCY, reminds me of INGN, sexy PRs but lacks substance.
take care
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