There's something I don't understand. Everywhere I look, there's another story about Ken Heebner being the hottest fund manager in the universe and his Focus Fund being the next best thing to Hallelujah Land itself. Even Cramer likes him.
What I don't understand is, ordinarily I would not be allowed to get in on such a good thing. I'm usually ineligible for success. Luck is not one of my talents.
I know it's a stupid attitude to take. Why shouldn't I get lucky, now and then? Well. I don't know. It's like I sense the hand of God in my investments.
The God I'm talking about is like Yahweh - omnipotent, wrathful, and something of a trickster, but not necessarily with my best interests at heart.
I'll try to explain. A couple of weeks ago, I bought a little Heebner. It went up, so I bought a little more. It kept going up for several days. I was happy, but I knew it could turn south at any time. So, I decided, when it did, I would buy more, but would stand pat while it was rising. It was a plan.
Almost immediately, it dropped $3.56 in one day. The next day, it declined again, but not so much. I was in the hole, just enough to get my attention, but I looked on it as a bargain in the making. In this market, I reasoned, everything is tanking. So I laid low, and waited.
Immediately, or so it seemed, it went up for a couple of days, so - at $56.42 - I wasn't in as big a hole as I had been in. Not wanting to squander my opportunity, I put in an order today to buy some more. Today, it closed up $2.08. My purchase was recorded at two cents under my cost basis. I'm basically flat on my whole stash of Heebner.
Now, I'm waiting for the other boot to drop. Tomorrow, the broad market rallies, and the bottom falls out of Heebner. It's a dumb joke, but I never said Yahweh was smart.