Monday, November 12, 2007

Discipline, Patience and Balls

For me, today is the best of both worlds: a holiday from work, but the markets are open. I get to consider my chances at leisure. So far, there's not much going on for a guy who has thrown his full resources behind Google and cash. The market is up, but GOOG is down.

GOOG being down is not all bad for me, as I have money that's burning a hole in my money market fund, waiting for GOOG to move below 650. As I live and blog, it's there now. I can now buy back the 48 shares I recently sold, and put a two-dollar profit in my pocket! But not so fast. My target to buy is the region below 610. Why? Don't ask me. Ask the seat of my pants.

If you have read this rag before, then you know that I am not a pundit with credibility. Nevertheless, when I have the opportunity, I'm as prone to sermonizing as the next guy. Especially on a holiday, following a Sunday.

My text, this week, is Discipline, Patience and Balls.

For the long distance runner in Google, discipline is nothing. Discipline is going to bed at night and getting up in the morning. So much for discipline.

Balls is what has led some of us to put 20% of our net worth into GOOG, a single stock.

Patience is what I am studying now. When GOOG shot up to 747, I thought, I'll never see 650 again. But I bought patience. Now, Lafayette, we are here. But more patience is required.

Discipline, Patience and Balls. But the greatest of these is Patience.


Larry Blumen said...

After 3 PM, it appears that GOOG is setting itself up for the next leg down. I was wondering how that was going to work.

Larry Blumen said...

It didn't work.