No. of Recommendations: 6

OK, I do hear you. I don't even disagree with you for the most part - - - But these reference

Valeant - nobody was buying that at $265 ever ever thought it could drop to $10. I won't even bring up Lehman or Bear.

do little to reinforce your argument. I never, never would have touched any of them. I forget the guy's name that became CEO of Valeant before their big run-up. I seem to remember that Tom Gardner thought pretty highly of him. I thought he was a con man from the get go. Lehman and Bear, I pretty much stay away from bank stocks on principle. I don't get the accounting, it all seems pretty much like magic to me. I might get tempted by a smaller bank, I was in BOFI for a bit until I started reading about Garrabrants. That guy is unfit to drive a garbage truck, let alone function as CEO of a bank. I bailed (sort of by accident via a stop loss order), but I never returned and never regretted it. Big banks are just scary. I don't trust any CEO of a big bank. I could be wrong about one or two, but for the most part I view bankers as criminals. Just my opinion.

If I'm not comfortable with the management, I won't invest in the company no matter how great their product/service might seem.

Yeah, you're right, a lot of the companies we are invested in here have high multiples. I admit, I get nervous about that. Those multiples come from unusually strong growth coupled with unusually strong offerings with deep and wide moats coupled with extraordinary management.

I'm not terribly concerned about "the market." I'm not invested in the market. If the market on a whole gets whacked, it doesn't make much difference what you're invested in, you're gonna take a beating.

So I got beat up today along with a whole lot of other folks. In a few months the quarterly reports will be coming out again. I expect that the companies I'm in will have glowing reports just like they had last quarter and the one before . . . If they haven't retraced a lot of the stock price by then, I have reasonably high confidence they'll bounce higher then they were two days ago.

If we enter a thermonuclear war with N. Korea, all bets are off. I live in the Seattle area surrounded by Boeing plants. I'll be vapor and won't much care.
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