bac
Lab Rat
Posts: 37
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Post by bac on Jun 30, 2019 9:52:48 GMT -5
Ben Graham wrote in The Intelligent Investor: “An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory [or ‘adequate’] return. Operations not meeting these requirements are speculative.”
• Safety of Principal – View a long-term chart of MNKD stock price. The principal has not been safe. • Return - The stock does not pay a dividend, which is ‘adequate’ for a “speculation” such as MNKD stock, IMO.
Conclusion: MNKD stock is a “speculation”.
Almost everyone on this message board uses the term “investment” when referring to their MNKD stock holdings. This is wrong and annoying.
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Post by letitride on Jun 30, 2019 11:08:28 GMT -5
Apparently most people on this board dont agree with Ben Graham. I am invested in shares of Mannkind and speculate on its share price with calls puts and leaps.
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Post by brotherm1 on Jun 30, 2019 12:07:04 GMT -5
Gateway, Tandy (Radio Shack), Sears, General Electric, KMart......and how many others, must have all been speculative according to that definition
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Post by pat on Jun 30, 2019 12:17:57 GMT -5
I am invested in a proven technology and a portfolio of patents.
I am waiting for first iteration of that technology to be adopted by a group of (sometimes arrogant) purveyors in a poorly organized industry with many perverse incentives.
In the meantime my investment is being preyed upon by many dishonest actors of low character.
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Post by joeypotsandpans on Jun 30, 2019 12:24:15 GMT -5
Apparently most people on this board dont agree with Ben Graham. I am invested in shares of Mannkind and speculate on its share price with calls puts and leaps. The OP omitted a few other things about Graham and when he originally stated his thoughts were 70 yrs ago, the market was a totally different playing field back then regarding trading systems, dark pools, bots. However, his main thesis align with a lot of holders of this equity in general: The Intelligent Investor (1949). His investment philosophy stressed investor psychology, minimal debt, buy-and-hold investing, fundamental analysis, concentrated diversification, buying within the margin of safety, activist investing, and contrarian mindsets.
So the argument can be made that he would have some of the same thesis as a lot of buy and hold investors with this equity have had as well. All of us can pull excerpts to make a point. More importantly, does it matter if it's speculation or investment if one is ok with holding either in their portfolio? I know one young individual that "speculated" in crypto in its early stages and is now funding all kinds of successful ventures and businesses, so not really sure of what the OP's point of the thread is.
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Post by cjm18 on Jun 30, 2019 12:43:19 GMT -5
He also believed via wiki that a ...stock owner should not be too concerned with erratic fluctuations in stock prices, since in the short term the stock market behaves like a voting machine, but in the long term it acts like a weighing machine (i.e. its true value will be reflected in its stock price in the long run.... sounds like buy and hold for the long term of a company that has little chance of bankruptcy is not speculative.
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Post by awesomo on Jun 30, 2019 12:50:37 GMT -5
Gateway, Tandy (Radio Shack), Sears, General Electric, KMart......and how many others, must have all been speculative according to that definition Things change, once the fundamentals break down, these all became speculative.
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Post by sportsrancho on Jun 30, 2019 12:55:12 GMT -5
My clients ( kids on Afrezza) dad used to tell him, all biotechs are speculative, buy a basket of 4, one of them will do extremely well.
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Post by mytakeonit on Jun 30, 2019 14:09:17 GMT -5
Of the 4 ... I decided to buy only 1.
But, that's mytakeonit
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Post by cretin11 on Jun 30, 2019 17:30:44 GMT -5
Of the 4 ... I decided to buy only 1. But, that's mytakeonit yeah same here. Oops. But not giving up yet.
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Post by cretin11 on Jun 30, 2019 17:33:26 GMT -5
Ben Graham wrote in The Intelligent Investor: “An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory [or ‘adequate’] return. Operations not meeting these requirements are speculative.” • Safety of Principal – View a long-term chart of MNKD stock price. The principal has not been safe. • Return - The stock does not pay a dividend, which is ‘adequate’ for a “speculation” such as MNKD stock, IMO. Conclusion: MNKD stock is a “speculation”. Almost everyone on this message board uses the term “investment” when referring to their MNKD stock holdings. This is wrong and annoying. It’s not wrong. Maybe it’s annoying to you, that’s subjective. MNKD shares are an investment that happens to be extremely speculative, like many others. Ben Graham was a wise dude but he didn’t write the dictionary.
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Post by myocat on Jul 1, 2019 7:21:35 GMT -5
Yeah, I also bought a basket of 4 of equal weigh. 3 tank, 1 breaks even. LOL. Happy 4th to everyone.
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Post by agedhippie on Jul 1, 2019 8:23:52 GMT -5
Yeah, I also bought a basket of 4 of equal weigh. 3 tank, 1 breaks even. LOL. Happy 4th to everyone. I bought 2, MNKD and DVAX. My mistake was not getting out of DVAX when I got out of MNKD. I am still clutching that particular bag.
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Post by myocat on Jul 1, 2019 8:35:50 GMT -5
I got out of DVAX in the teen. It is getting back to post RS split level ($4-$5??).
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Post by longliner on Jul 1, 2019 9:15:45 GMT -5
Either way, invest or speculate, I bought at dawn.😎
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