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| EMC Portfolio | If a random person,
asks you how the market's doing, these charts make you sound smart.
November 25 Tangent: This thesis is intriguing: "Medical study confirms brain impairment HELPS improve investment returns," Ajay Singh Kapur, chief global equity strategist at Citigroup, wrote in a summary of the study. November 17 Tangent: There is hearsay on campus that finance professor Paul Maloney was lampooning both the name of this club and its model for short-term investing. Just for purposes of debate, I will briefly address both of his shots, although he may not have actually made them because he did not make them directly to EMC. The criticism that the name of the club does not make sense. In a popular sense, Dr. Maloney is right on the button: the club name does not make much sense from a popular viewpoint. The term "equitable" by definition means fair and just, an attribute the stock market and capitalism clearly do not seem to possess. Investors all the time lose lots of assets because of reasons which they deem as "unequitable". People who they trust, such as their dentist or attorney or golfing buddy, give them hot stock tips that ultimately bust. As a result, they must send their National Merit Scholar children to the local Community College and hold a permanent grudge against the market because they think that its unfair. This perspective is popular because it happens all the time to so many different people. From this perspective, Dr. Maloney is correct. We @ the Equitable Markets Club do not take stock tips from dentists. We do not believe the stock market is unfair. We believe that stocks go up and down for a reason, and if one does enough research or develops an accurate system, one can make lots of loot. We believe we can turn the stock market into a science...the stock market scientists...that might have also been a cool name for our club. Equitable Markets carries the same implication- the stock market is fair because it can, will, and does get beaten. The criticism that what EMC does is not investing, but "timing the market". Once again, Professor Maloney is Bulls Eye. Or should I say Bears Eye. He is right in that timing the market does not adhere to the traditionalist view of investing; however, it's an approach that does not maximize returns. Why wouldn't you want to time the market? Why would you sit on your couch doing absolutely nothing when there are stretches in which you KNOW that a stock is going to go down (ie downgrades, negative press releases, bad season, new lawsuit)? Why not get off your couch and sell it??? Then, when a good stock has overcome any downward momentum and has formed a bottom, get back in it. The ultimate end of investing is to increase the value of the original investment, yet most finance professors believe the definition of investing is researching, buying and holding. Timing the market is superior to this version of investing because if you are good at it, you can make immeasurable more moola. November 16 Tangent: Here's a great article from Fortune Magazine about the success of facebook. Further demonstrates the worthlessness of school. November 15 Tangent: I think it's pretty safe to say that guest speaker John Ollquist was a roaring success. He didn't exactly put six figure jobs into the palms of each member of the audience, but he instead bluntly reported the criteria to be successful on The Street. He outlined how Wall Street Firms such as Lehman Brothers (where he worked), Goldman Sachs, and Merril Lynch have a slew of positions that provide opportunities for people of all talents. However, he made it clear that Wall Street is composed of Ivy League sharks as opposed to Big East Cream Puffs. At a job interview, one needs to know the exact specifications of the position, and answer questions will clear, concrete facts, instead of all the malarchy that we used to put down on our Monday Morning Western Civ quizzes. Among other topics he discusses were: 1) The difference between Institutional and Retail Traders and why you would want to work for one group versus the other 2) The vitality of attending an elite graduate school 3) Salesman versus traders on the exchange floor 4) He gave out his phone number 978-443-2713 and invited us to call when we are around the New York area and hang out at Lehman Brothers for the day 5) How the operations position at a Goldman Sachs carries the significance of being "a step in the door" rather than being a measly clerical job I personally enjoyed it when he said something to the effect of: "If you want to show up at your office with cherrywood furniture five minutes late, put your feet on your desk, peruse the Wall Street Journal, turn on some CNBC, smoke a cigar, then scan a few charts...then working on the trading floor isn't for you...although they do make 14-20 million dollars per" *** Watch out for the Under Armour IPO coming Thursday as Hughey alerted. Sandisk got downgraded to a SELL today by Deutsche today, selling that stock down a slippery slope. This comes after Mr Mad Money himself trashed my favorite stock on his show. I would stay away from that stock and lean towards apple, and this biotech stock Sinovac - ticker sva. November 10 Tangent: Sandisk and apple have lost their buzz. November 8 Tangent: My stock source says that JDS Uniphase (JDSU) is a strong buy. You might want to check up the member biographies to get a gist of what this club is about. November 3 Tangent: If any of you have $4000, lying around...Lexr. cbou. amgn. cutr. bby. yhoo. The November 2 Tangent: For all of you skeptics who do not believe in momentum: The executive board promoted apple, sandisk, motorola, and sirius with flying colors last night. Here's what happened today. Apple hit a new all-time high this morning. Sandisk hit a new all-time high. Motorola is up 5.8% and Sirius hit $6.95/share, we said it would hit $7 in the next two weeks. Maybe momentum doesn't exist and we should have based these stock picks on balance sheets and liquidity tests...cough cough cough. And maybe there are WMD in Iraq and Osama bin Laden is one of my 5 roommates. The November 1 Tangent: The first meeting was short and sweet. The second meeting was really groovy. The third meeting is going to be a bit disheartening as we talk about all the money we would have made if we had real money to put into the stock market. Only if... I told Harry Tamule about how we made $6000 in one day with our mock portfolio and he wasn't particularly impressed because it wasn't real money. So then I told him to lend me
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some real money, and he said NO...with this big smirk on his face, as though I were untrustworthy. The third meeting will consist of more entertaining speeches by the EMC executive board and anybody in the audience who wishes to share their stock market moves.