Comments on: “World’s Greatest Mutual Fund Re-opens — Could re-close any minute”

By: destry

destry — Sun, 22 Jun 2008 17:06:38 +0000

Sequoia is a good fund. And yet, it’s returns over;In this instance, 30 years, are not isolated,
or particularly unique…Keep in mind Fidelity’s
Magellan Fund;Under Peter Lynch,returned well over 3000%, in a 10-year period of time…The sobering
point is that of everyone who was ever in it…
over 2/3rds lost money. The reason is that, due to its’ 1% sales charge,it became a trading vehicle.
By contrast…I know too many retired oil people,
who bought shares of Exxon, from their first day as a roustabout on a West Texas oil rig…And kept buying; Sometimes a share at a time, even from a buddy who was down on his luck…The smart ones
didn’t sell, even if it meant tightening their
belts a notch or two during lean times; And the kids were sitting around the table, fighting
over the lumps in the gravy, thinking it was meat.
30 years later, there are more Exxon Clubs,of
retired oilfield workers,than you can shake a stick at…Most of them millionaires, and often just from that one stock (Makes advisors and
compliance people cry). GE is about the same.
Buy it in 1932, and hold it…And other than being
annoyed that it’s down so much from $55/share in 2001…Who cares…What’s the yield, and return
on a company with nearly ‘zero’ cost basis, after
75 years…The DuPont family did the same thing
back when the Vanderbilts, and JP Morgan
owned everything…The DuPonts still do.
So much for the sermon on the mount….

Some of you take these “teasers” as a personal affront. It’s rather fun to ferret out the investment. One I scuffled around in the dirt
to isolate, turned out to be the Lundin family’s
businesses…Lundin Mining, as one…Not all teasers are going to fit your pistol…Not all
investment newsletters are going to be what you want…Some of you have developed investment styles
successful to you, and really use a favorite newsletter, as much to support your style,
as for any boffo ideas…
And some buy “any” recommendation made, and
wonder why you lose money…
Some of the best “Can’t miss!”; “No Brainer!!”
investments you’ll ever drool over…That nobody could screw up; Will be…I think there must be a law somewhere. It makes you tired all over…But that’s why it’s called, “Investing”,
and not “Knitting” (Besides, that name was already taken”). I still haven’t bought “Lundin”…I probably won’t.
You know…One really shouldn’t run off at the mouth like this, when one has a bit of artheritis in the hands.

By: John Sloan

John Sloan — Thu, 19 Jun 2008 19:24:57 +0000

HI all
Yes, I saw the Whiskey pitch about Great Oil Hoax – and I already subscribe to OI – the ‘hoax’ is that the Saudi stated oil reserve being lower than official is ’secret’ that analysis has been out for a long time. OI itself has been pitching that for a very long time. For instance, also, read “Profit from the Peak” by Brian Hicks and Chris Nelder – the best comprehensive book I have seen on future energy industry. Not only Saudi but many governments are over stating their oil reserves. Practically all OPEC countries do it because their production quota is linked to stated reserves.

As always Gumshoe is the finest – but there are just too many of these hyper pitches for him to cover them all.
best
john

By: joe cruz

joe cruz — Thu, 19 Jun 2008 06:11:30 +0000

Well from research i’ve done if the stocks you pick aren’t outperforming the stock market a good index fund is money in the bank. A 75 year average of beating the market with avg returns of about 11%.I’m a small investor and would like to know if anyone has good stock picks they’d like to share.

By: Pat

Pat — Thu, 19 Jun 2008 04:36:22 +0000

I saw it. Let me know if you find out.

By: Diane Reinstadtler

Diane Reinstadtler — Thu, 19 Jun 2008 00:56:23 +0000

Wondering about Whiskey and Gunpowder’s claims of June 18th…The Great Oil Hoax regarding Saudi Arabia’s oil production. Have you seen it. I can foward, but need an e-mail. Thanks

Diane