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Easy come...
Old 06-22-2005, 03:54 PM   #1
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Easy come...

I own a substantial stake (for me) in MOVI. I bought it last year in the teens and it has had a remarkable run. I believe the stock is worth 40 or more, so I had no interest in selling at 33. Today was somewhat painful to watch, but I still believe that the stock is worth a lot more than the market price, so I am more than willing to sit it out and hold for the long term. Days like this definately test one's testicular fortitude.

BTW, I think the stock is a steal at these prices if you are inclined to take a flier.
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Re: Easy come...
Old 06-22-2005, 06:07 PM   #2
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Re: Easy come...

Yikes, Brewer, would a trailing sell stop have hurt you that badly?

Thanks, I'll add this one to the watch list!
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Re: Easy come...
Old 06-23-2005, 06:29 AM   #3
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Re: Easy come...

I don't use trailing stops. If you are trying to guard against a collapse, they usually don't work. Otherwise, use of a stop tends to get you stopped out of an attractive investment due to short term fluctuations. In any case, I don't buy anything that I wouldn't be willing to hold through an ugly bear market and I have a multi-decade investment horizon, so short term thinking is something I try hard to avoid.
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Re: Easy come...
Old 06-23-2005, 07:54 AM   #4
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Re: Easy come...

Brewer -

Off topic. Are you following the newspaper stocks or does it fit into your "left for dead" category? A bit pricey for me but nobody is buying in that area. Dean's Food spinoff today I believe under the name TreeHouse Foods, don't know the ticker. Fav older spinoff MGI. Good business. And this has been your Bloomberg update.
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Re: Easy come...
Old 06-23-2005, 08:40 AM   #5
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Re: Easy come...

I find the newspaper stocks to be pricy. Haven't looked at MGI, but I will. Personally, I am waiting for AEFA/Ameriprise to spin off. If it is available at or below book, I will be an eager buyer.
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Re: Easy come...
Old 06-23-2005, 11:15 AM   #6
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Re: Easy come...

Quote:
Originally Posted by brewer12345
I don't use trailing stops.* If you are trying to guard against a collapse, they usually don't work.* Otherwise, use of a stop tends to get you stopped out of an attractive investment due to short term fluctuations.* In any case, I don't buy anything that I wouldn't be willing to hold through an ugly bear market and I have a multi-decade investment horizon, so short term thinking is something I try hard to avoid.
Nothing like an overnight 15% drop to test one's mettle in these philosophies!

What I want is a reliable indicator to distinguish the "short term fluctuations" from the "long term disasters". So far the only one I've found is any wire-service photo of a CFO being led away in handcuffs...
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Re: Easy come...
Old 06-23-2005, 11:43 AM   #7
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Re: Easy come...

To my way of thinking, if you are picking stocks and can't spot the long term disasters, you deserve what you get until you move to indexing.
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