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February 23, 2006
Even teenagers think I'm wrong about Toll Brothers
Had to smile when I came in this morning and had this comment waiting to be approved on my recent Toll Brothers dissin entry:
I'm 16 and even I know when I see a good buy for stocks. If you want to make it in the business world then you need to buy the stocks when they hit rock bottom. There is no way you can lose they are sure to go back up. Even if it isn't much you are almost sure of making some money off of this. I mean you can even help your stocks by eating some delicious cookies. We'll you have my input.
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It must be nice being 16.
But while many investors have been successful at buying stocks at "rock bottom", others, myself included, have occasionally bought these Filene's Bargain Basement stocks only to find that what we thought was the bottom, was somewhere higher than the low point in the descent of a stock investment.
William O'Neill has preached for many years that stocks with the "N" in CANSLIM, the "New High" or something else new, were good investments to consider. Personally, I have found that stocks moving sharply higher are often poised for more gains if the underlying fundamentals are evaluated clearly.
It may be far wiser to invest in companies doing well instead of speculating that a company having problems is on the verge of turning itself around.
On the other hand, why not enjoy a chocolate chip cookie from time to time with that Toll Brothers stock? Low-fat diets don't seem to be effective, and there are all of those anti-oxidants in chocolate aren't there?
Posted by: Robert Freedland at February 23, 2006 06:22 PM