저자: The Mindset · 외국인
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one one of the things I find a rule i i a couple rules I want to throw out and I find useful is a lot of times people buy on the basis the stock has gone down this much you know how much further going to go down I remember when Polaroid went from 130 to 100 people said here's this great company great record whatever gets below 100 you know just buy every share you know and it did get below 100 a lot of people bought on that base and saying look it's got 135 to 100.
it's not 95 what a buy within a year it was 18. and this comes with no debt I mean it was just so overpriced it went down uh I did the same thing in my uh I think my first or second year Fidelity Kaiser Industries had gone from 26 a share to 16. I said how much lower can it go it's 16. so I think we bought one of the biggest blocks ever on the New York on the American Stock Exchange of Kaiser Industries at 14.
I said you know it's gone from 26 to 16. how much longer can I go well at 10 I called my mother and said Mom you go to uh look at this Kaiser Industries I mean how much lower can it go it's gone from 26 to 10. well I went to six it went to five it went to four and went to three and uh I am unfortunate this happened rapidly or I would probably be still cattying or being working at the Stop and Shop but it happened fast I was able to say it was compressed that uh and at three I figured out you know there's something very wrong here because Kaiser Industries owns 40 of Kaiser steel they own 40 percent of guys aluminum they own 32 percent of kinds of cement they own Kaiser broadcast they know in Kaiser Santa gravel Kaiser 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 it's a it's a real achievement but they had no debt and the whole company at three was selling at about 75 million at that point it was equal to buying one Boeing 747 I said there's something wrong with this company selling for 75 million I was a little premature at 16 but uh I said everything's fine and eventually this will work out and they what they did is they gave away all their shares to their shareholds they passed out shares and kind of cement they passed out chairs in kaisalum they passed out their publish shares and Kaiser steel they sold all the other businesses and you get about fifty dollars a share and but if you didn't understand the company if you're just buying on the fact the stock had gone from 26 to 16 and then it got into 10.
what would you do when it went to nine what would you do when I went to eight what would you do when it went to seven this is the problem that people have is they sell stocks because they didn't know why they bought it then it 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 psychiatrists that haven't worked so far I've never seen them running in this the psychological Psychiatry fund I've never seen listed for the uh 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 uh the uh so if you don't understand the company you have this problem when they go down uh eventually they always come back uh this one is a this one doesn't work either people think uh RCA just about to get back to its 1929 High when General Electric took it over uh a lot of double knits never came back remember those Beauties uh uh floppy diss Western Union uh the list goes on and on uh people saying it'll come back well it doesn't have to come back uh here's another one you hear all the time it's three dollars how much can I lose I've had people call me up saying I'm thinking of buying the stock at three how much can I lose well again you may need a piece of paper for this but if you put uh if you and if you put twenty thousand dollars in a stock at 50 or your neighbor put 20 000 at full at fifty into the stock and you put twenty thousand dollars in a three and it goes to zero you lose exactly the same amount of money everything if people say it's three how much can I lose well if you put a million dollars on it you can lose a million dollars just the fact that this is the only this may be a reason a researchers thought the fact of stock is three down from 100 doesn't mean you should uh buy it and in fact short sellers people that really make money in stocks they don't show at Walmart they don't show at Home Depot they're not sure they're great companies 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 seven that this company is going to go to zero they just haven't blown Taps on this thing yet it's going to zero and they're selling short seven they're selling short at six at five at four at three at two at one and a quarter and you know to sell something short you need a buyer somebody has to buy the damn thing and you wanna who's buying this thing it's these people saying it's three how much lower can it go now here's a subject that you probably uh all talked about getting close getting close all right we'll drop that one out the uh it's getting very close so it uh everybody has to go somewhere so uh the important thing is you can't get too attached to a stock you have to understand there's a company behind it you can't treat this like your grandchildren no you have to deal with the stock and say I understand the company and if they deteriorates that the fundamental slip you have to say goodbye to it you have if one rule you want to remember is the stock does not know you own it this is just a breakthrough so don't get you know you have to understand it and say they're doing well and as long as they keep doing well my best stocks have been my fifth sixth seventh year I own them not my fifth sixth seventh day so you have to understand that and stay with it
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