Swimming in the maelstrom
Hello All,
I'm here to learn and share what I know. I've been a lawyer for twenty-two years, and specialize in recovering stolen Internet domains and other Intellectual Property issues such as software contracts, media deals, etc. I enjoy my work, that has put me in contact with many people who have made an excellent livelihood trading a variety of things -- from Harley Davidsons to real estate, from stocks to Internet traffic.
The financial markets are attractive because of the opportunity to moderate risk. Recently eTrade gave me a larger complement of tools than my basic account, and I immediately put them to work, garnering a goodly profit in two days surfing the volatile and beat-down sector of US financials. But for the use of the simple trailing-stop, I would have missed the right exit point and simply stayed along for a ride to the bottom.
My particular interest is in finding well-capitalized companies that are not at risk of going to zero, that produce real products and generate substantial revenue, and have for whatever reason have hit a snag that has dragged their stock price down disproportionately. A good example for me was about three years back, when Netflix lost half its market cap when Amazon announced it would be entering the DVD rent-by-mail market. Having been a Netflix user, and knowing a little about the CEO (I liked the image of him in Fortune, pushing a handtruck on the warehouse floor), I felt sure they'd come back. I was right, and made about 60% in a couple of months, as I recall. Could've made more, but I bailed when it hit its previous 52-week high.
For the current term, I keep hearing Rothschild's words in my head, that "the time to make money is when blood is running in the streets," which it certainly is. But greed is dangerous, blind leaps are more often than not disastrous, and as Solomon said, "In a multitude of counselors is safety."
Chas
