THREAD IS CLOSED! --- Bob Brinker Free Discussion Site 11K+

Top 5134. Jan 2, 2001 2:28 PM

» Will_L - Good News!!!

Over on the now dead Brinker site I checked the bulletin feature and for those of you worried about that QQQ trade, I can report there is no bulletin. So you know that absolutely nothing has changed since mid-October. The fact the Q's were down another 8 percent today alone and are now heading toward 40% under that "act immediately" price that many paid, I should think it is some consolation that it is performing exactly as Brinker figured it would. After all this is only 2-1/2 months into originally a 2-4 month and now extended to 6 month time frame. There is plent of time and if Kirk could show us a chart of the QQQ's one can see that from the time Brinker bought till now the drop has been so steep and persistant that such a fall cannot continue the entire 6 month period or we can all go to the bankruptcy auctions at all 100 of the companies making up the QQQ's.

So I think Brinker has em right where he wants em--I can understand those not understanding the model that he uses being worried but I've been assured as long as there is no bulletin, everything is fine with the trade. I'm certain that even though the volume of people calling his office to subscribe to the newsletter had something to do with shutting down the website discussions without notice, that at least part of the reason was the difficulty the common folks involved in this trade had in following the sheer genius of it. Perhaps its like Ali's rope-a-dope strategy when everybody thought he was getting beaten by Frazier. After listening to Mark and others I'm quite certain he knew this was going to happen and has it factored into the trade. He would have had to spend every minute hand holding while everything is going just fine--remember there is no bulletin.

-- posted by Will_L

Top 5135. Jan 2, 2001 2:29 PM

» Mark_J - Re: Re: Re: Re: Re: will

In response to message posted by Will_L:

Will, I wasn't really attempting to make it sound like folks are even-steven after 2000. Although Dan pointed out that he made a few percent, and I think once I figure out taxes, I'll be down a couple percent. Besides, the pom-poms are stowed away and my cheerleader outfit has been auctioned at eBay. (Looks like Walkerman had the winning bid.) But, I just wanted to show in that previous post, that Mr. Joe Sixpack with a 70-30 allocation in a $100,000 portfolio, who put 30% of dry powder into the QQQ is down about $4100 because of taking Bob's advice latest countertrend advice. Hardly a reason to get David Boies on the line and be making court appointments. More agressive investors will have lost a tad more. More conservative investors would have lost a tad less.

Now, I wouldn't call that a huge success by any stretch. And some folks ignored the advice by investing more what was recommended, overweighting in tech, using margin, or leveraged funds or whatever.

Many people got hurt in 2000. No doubt about it. I think we can agree on that one.

-- posted by Mark_J

Top 5136. Jan 2, 2001 2:34 PM

» ACousins - Re: Re: Re: Re: Advice liability

In response to message posted by Kirk:

Kirk, as I said I didn't bring up this issue and am not advocating suing anyone for anything.

I think it's funny that Bill Flannagan mentioned this topic this weekend. He said basically that it will take laws to make financial types behave. He said that ethics and morals will never keep anyone in check. I think this was in reference to the 80 year old woman who was stuck with a 5% longterm load fund due to the great advice of a broker. I believe he suggested that she would have little legal standing but who knows?

Is there belly aching and whimpering? Of course there is but there are also legitimate complaints mixed in as well.

-- posted by ACousins

Top 5137. Jan 2, 2001 2:37 PM

» DanG_6 - Re: Re: Re: Hi all

In response to message posted by SLO219:

SLO, I don't understand the strategy of hedging a losing position rather than just selling it outright. If you found the perfect hedge and put it on, how would you would be better off than than just getting out of the position totally?

-- posted by DanG_6

Top 5138. Jan 2, 2001 2:39 PM

» Rande - Re: Re: Better be very careful about making accusations of illeg

In response to message posted by ACousins:

Well, there's two ways to look at it:

1. Legalistically -- Maybe David K. can address this better than I, but I believe that an allegation of illegal or criminal behavior is slander per se the only defense for which is the truth. In other words, if you are going to make serious charges you better be able to prove them.

2. Ethically -- It's just plain wrong to bring allegations of illegal activity against someone who has done nothing illegal. I'm a believer in the principle that you cannot achieve honorable goals through dishonerable means. That's one of the reasons I don't like anonymous attackers. Opinions about perceived unethical behaviors and expressions of dislike over personality issues are one thing, and should be freely expressed. I just think a line is crossed when charges of illegality are tossed out without basis in law or fact. Not a line I would ever want to be on either side of personally.

-- posted by Rande

Top 5139. Jan 2, 2001 2:41 PM

» LibertyPi - Open Letter to Bob Brinker

Dear Mr Brinker,

I want to heartily express my thanks for your very unpopular directive to move to cash last January. While all around me I heard calls for a "new economy" and dissertations on how "this time it is different," you remained rational and realistic.

It was a difficult position to take, and required a lot of courage on your part. There was quite an industry -- a gigantic powerful coalition of media, Wall Street, and business -- devoted to propogating the myth that the tulipmania-like stock evaluations were justified.

You kept the Big Boys from taking the money of us blue collar types. And for that we owe you a tremendous debt of gratitude.

Bob, thank you.

LibertyPilgrim

-- posted by LibertyPi

Top 5140. Jan 2, 2001 2:44 PM

» Centigrade233 - WPPS And Class Action Suits

Does anyone remember Washington Public Power System (WPPS), the largest Northwest Public Utility?

WPPS was the FIRST IN HISTORY to ever default on a municipal bond.

I have an Uncle (I have a LOT of Uncles) who owned 180 WPPS bonds. One day he got a letter in the mail from a class action firm, and he signed onto the suit, long after he had sold the bonds for a huge loss. The suit cost him nothing.

There was nothing illegal alleged, but WPPS, their underwriters, and all the major brokers were sued, and lost.

It took a decade, but the class collected BILLIONS, and my uncle recovered about 30% of his loss.

I never understood the basis for the suit, but it had something to do with the type of investors who buy municipals, and an implied fiduciary responsibility.

Naturally, the bonds were offered by prospectus, and it had all the usual weasle words.

I wouldn't rule out the possibility of a class action lawsuit against Brinker. It depends 100% on whether or not some lawfirm thinks there is enough in it for them.

By law, they could subpoena Brinker's mailing list and contact everyone who has trade confirmation slips to prove their losses.

The whole thing would take years.

-- posted by Centigrade233

Top 5141. Jan 2, 2001 2:45 PM

» Will_L - Re: Re: Re: Re: Hi all

In response to message posted by DanG_6:

Though after seeing leverage and shorting mentioned I quickly thought it was something I would not want to be a part of, I see you share my concern Dan.

Perhaps SLO has a workable solution that I don't understand but it concerned me that he was counting on Brinker being right about things getting worse later--this is pretty bad, I'm not sure that later its going to to get a lot worse and I'm pretty sure no one knows if it will.

Making this stuff complex though reminded me of listening to Granville. He had it all "figured out" and went short and did this and that and seemed to lose a bundle during the best bull market in history. I'm not sure that when things are going badly in the market, getting overly agressive won't turn a very bad situation into one where as Felipe I think put it the other day, you get to start over.

-- posted by Will_L

Top 5142. Jan 2, 2001 2:47 PM

» ACousins - Re: Re: Re: Better be very careful about making accusations of i

In response to message posted by Rande:

I believe that an allegation of illegal or criminal behavior

I haven't seen anyone accusing anyone of either illegal or criminal behavior. Sorry but 'm not sure what you're talking about.

-- posted by ACousins