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I’m sorry to have had to delete so many posts in the last few days but there are people who seem to come here when the market is down with no other purpose but to attack me, the other board leaders, and the way we invest. This board is for cordial discussion of individual high growth companies, not for attacks or having to fend off attacks. These posts, and other Off Topic posts, will continue to be deleted.


First of all, in all of my monthly summaries I write the following:

”You should never try to just follow what I’m doing without making up your own mind about a stock. First of all, you may have a completely different financial picture than I have. Different age, different income, different assets, different debts, different expenses, different financial and family responsibilities, etc.

Besides, in these monthly summaries I’m giving you a static picture of where I am currently, but I may change my mind about a position during the month. In fact, I not infrequently do, and I make changes in the position. I usually don’t announce these changes until the end of the month, and if I’m busy or have some personal emergency I might not announce them even then. And besides, I sometimes make mistakes, even big ones! Don’t just follow me blindly! I’m an old guy and won’t be around forever. The key is to learn how to do this for yourself.”


That should be pretty clear. In many other posts I urge people to make their own decisions. The other board leaders do the same. This is just a board to discuss high growth companies. We don’t have a clue what is the best investing style for you, or what you should invest in! Period!

If you don’t like our board, and the way we invest, no one is keeping you here. Go somewhere else where you will be happier!


Second, since I wrote my post Two Week Summary to encourage people by pointing out that most of our companies were 45% up from their lows, some of those attack people, that I referred to above, snarkily and snidely started accusing me of ignoring and trying to hide how far the companies were down from their highs. That’s pretty laughable since in my discussions of the same companies in my EOM Summary, I listed how far each of them was down from its high.


Besides which I certainly pointed out how severe the downturn was for me:

I don’t remember any other decline as bad as this one, except for 2008. This has been very painful for me, and I’m sure for you too. All my main companies reported good to excellent results, but it didn’t do them any good, they went down with everything else.

However the last six weeks seemed to have leveled out, and my portfolio closes hit the same low FIVE times, within a range of 2.1% from highest to lowest, which I consider within the margin of error with the eight different stocks making up my portfolio each wandering around independently over a period of five weeks! For the curious, those lows were:


May 11 -64.8% or 35.2% of what I started with
May 18 -65.2% or 34.8% of what I started with
May 24 -65.7% or 34.3% of what I started with
Jun 13 -66.5% or 33.5% of what I started with
Jun 16 -66.9% or 33.1% of what I started with



And it bounced each time. To me that meant that there was strong support at that level, and that a lot of buying came in and stopped the decline. I thus just don’t see “another 20% drop” below those lows, that some pessimists kept predicting. I simply don’t believe it’s going to happen.”

Does that sound as if I was hiding how bad the decline was??? I pointed out I had been down almost 67%, for gosh sakes! And that that had left me with only 33% of what I had started with!


Okay, that was five tests of the same levels in five weeks, which all held, so I said that I doubted we were going 20% lower. Well, it’s now more almost five more weeks since that last low on June 16th and my portfolio hasn’t gone down to that level again, and none of my companies’ stocks have gone through their lows either.

As TryingMyBest wrote, a few posts back, “I think the low is in, as news events that would have crushed the market just a month ago seem to now be met with some selling, but buyers coming in every time.”


Let’s quit this bickering and get back to discussing companies.

Best,

Saul
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