I received a phone call last night from ...well, let's see, this is kind of delicate.....um, he's a little bashful.......well, lets just say that to protect his identity that he is an individual whom we have discussed
Now "X" is a decent kind of fellow; fairly intelligent, definitely more than a bit quirky, but overall a guy that you can count on for sound advice and information on most topics, except one: Finances, specifically, stock picking. At that point, "Mr. X" falls off the rail and you might as well invest everything you have regardless of loss, cost, or value in any company that exclusively manufactures VCR's, horsewhips, or wall crank telephones. I can assure you that your financial position in any companies in these types of industries would return more than what X has done with his analytical picks.
"Mr. X" originally hired a second cousin of one of the Misfits on an interim basis to act as an intern of his organization. The resultant failure of this experience made me realize that though X is still one of my confidants, he certainly will not be my financial adviser. Anyways, X was bemoaning the fact that he had a particular investment that he had been holding for a period of time and decided to take a small profit from it and immediately put an order to his broker to sell it all the next morning. Sure enough, the next morning, the investment opened to the downside, further shrinking Mr. X's profit, but, hey, a profit is a profit. Then just as quickly, it reversed course and went up a full $1.25 a share before settling higher for the entire day. As a result, Mr. X watched $6,000 float by his greedy, grubby, overcharging, whining, little meathooks without snagging any part of it.
I feel sorry for X. Instead of the Midas touch, he has something else. I think it resembles the short-armed touch.