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excuse me there's a lot of times people buy on the basis the stock has gone down this much huh you know how much further gonna go down I remember Paul roid went from 130 to a hundred people said here's this great company great record but ever gets below 100 you know just by every share you know and it could get below 100 a lot of people bought on that basis saying look it's got 130 500 it's not 95 what I buy within a year was 18 and there's kind of no debt I mean there's a company was just so overpriced he went down I did the same thing in my thing my first or second year in fidelity Kaiser industries had gone from $26 here to 16 I said how much more can it go it's 16 so I think we bought one of the biggest flocks ever in the New York on the American Stock Exchange of Kaiser industries at 14 I said you know it's about 426 to 16 I was looking to go what can I call my mother and said mom you're gonna look at this Kaiser industries I mean how much lower can it go it's gone from 26 to 10 while I went to 6 and went to 5 and went to 4 and went to 3 and I unfortunately I'm rapidly er I would probably be still caddying or working at the stop and shop but it happened fast it's able to this is compressed at UH and at 3 I figured out you know there's something very wrong here because Kaiser industries owns 40% of Kaiser steel they own 40% of Kaiser aluminum they own 32% of Kaiser cement they own Kaiser broadcast and then Kaiser santa-cratic heisman engineers they own Jeep they own business after business and they had no debt now I learned this very early this might be a breakthrough for some people it's very hard to go bankrupt if you don't have any debt it's tricky some people can approach that itself so we'll achieve it but they had no debt and the whole company at 3 was telling at about 75 million and that point it was equal to buying one Boeing 747 I said there's something wrong with his company sign for 75 million I was a little premature at 16 but I said everything's fine and eventually this work out and they what they did is they gave away all their shares to their shareholders they passed our chairs and kind of cement the Bastile chairs in Casa Luna they passed out the public spheres and Kaiser steel they sold all the other businesses and you got about $50 a share and but if you didn't understand the company if you're just buying on the fact that and got from 26 to 16 and then again to 10 what would you do when went to 9 what would you do when to eat what would you do one went to seven this is the problem that people have is they sell stocks because they didn't know why they bought it then I went down and they don't know what to do now if you flip a coin do you walk around the block you know what do you do it's psychiatry 7 work so far I've never seen them running and aside the psychological psychiatry fund I've never seen listen for the with the SEC to make it through as a mutual fund so I they haven't seen the help I've tried prayer that hasn't worked the the so if you don't understand the company of this problem when they go down eventually they always come back this one is this one doesn't work either people think RCA just the bucket back to its 1929 high when General likely took it over a lot of Dublin it's never came back none of those beauties floppy disks Western Union the list goes on and on people saying it'll come back well it doesn't have to come back here's another one you hear all the time it's $3.00 how much can I lose I have had people call me up saying I'm thinking buying the stock at 3 how much could I lose well again you may need a piece of paper for this but if you point if you and if you put $20,000 into stock at 50 or your neighbor put 20,000 at full at 50 into the stock and you put $20,000 into 3 and it goes to 0 you lose exactly the same amount of money everything if people say it's 3 how much could I lose well if you put a million dollars on it you can lose a million dollars just the fact that start this is the own this may be a reason to research is gone the fact that stock is 3 down from 100 doesn't mean you should buy it and in fact short sellers people that really make money in stocks they don't show at Walmart they don't sure Home Depot in or sure the great companies Johnson Johnson they short stocks down from 80 to 7 they'd like to short it at 16 or 22 but they they figured out at 7 that this company is gonna go to 0 they just haven't blown taps on this thing yet it's going to 0 and they're selling short 7 their song is short at 6 at 5 at 4 & 3 & 2 one and a quarter and you know what if she says something short you need a buyer something has to buy the damn thing and you want to who's buying this thing it's these people saying it's three how much lower can it go
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