by AAA » Mon 18 May 2009, 12:05:36
$this->bbcode_second_pass_quote('odegaard', 'W')hat AAA claims is a *technical* possibility
but..........the devil is in the details.
Did anybody actually look at the stocks I showed?Those are my best performers I have bought in the last few months. I don't think a single stock I have bought in 2009 is down right now most are modest gains but gains non-the-less.
I bought Bank of America (BAC) because I new the govt wouldn't let it fail. It is too big to fail. I bought in at mulitple levels below $7/share and was LUCKY enough to buy a couple times when it was below $4/share. Then sold majority of my holdings when it got around $10/share.
I bought General Cable Corp. (BGC) because I new all the talk about renewable energy would fester talk about our electrical grid. BGC was down huge because of housing but I knew Obama would have a positive effect on the stock. I bought in around $10/share and $7/share but if you look it up will notice it dipped down to $6/share BUT I did not buy then because I was afraid it might go lower and I had enough money invested in it.
I bought MYR Group (MYRG) back when were were having icestorms around the US. MYR Group repairs electrical lines. Icestorms equal profit for MYRG. I actually bought this stock late last fall and during the winter when it was under $7/share. Then sold my entire position 4 months later when it reached $15/share.
DCP Midstream (DPM) is a pipeline MLP. It followed natural gas prices down. I knew natural gas prices couldn't go much further so I bought some DPM around $9/share and sold it 3 months later when it got over $17/share.
Trinity Industries (TRN) builds railcars and wind towers. Both vital for the future. It was oversold and I picked some up around $7/share and sold it 2 months later around $15/share.
In the last several months I have only caught a couple stocks at there true bottom and I was lucky enough to invest in a S&P 500 index fund at its bottom. Even then, most of my position in those stocks were bought at higher levels.$this->bbcode_second_pass_quote('odegaard', '
')Getting back to AAA's claim.
Did he honestly make that much money in such a short amount of time?
maybe yes / maybe not (my gut says no...I'll explain later)
Can he do this on a consistent basis --> IMPOSSIBLE
I never claimed to do it on a consistent basis. If I could ... I would be running a multi-billion dollar hedge fund in NYC.
At least 20% of my returns are from buying an S&P 500 index fund and then selling it. The rest are individual stocks.