I have been trading stocks for years since college in the dotcom telecom bust days. I have been a low down bottom fishing pirate trader since. One of the 1st stocks I ever bought was Global Crossing at 6 dollars. It looked like a steal. It was running at 60 bucks plus and fell down to 6 dollars! I thought to myself whoa boy do I got a bargain here hehehe, I’m going to get rich. Then I saw some fugly CNBC analyst on TV telling me that this was the buy of a lifetime. It had been 2 years since the tech bubble busted and now these telecom stocks are a screaming buy! He forgot to mention their insiders had been dumping billions in shares. Pikers. I swear to this day if I ever see Gary Winnick Global’s CEO I will light his nose hairs on fire then extinguish them with a fine stream of Miller Lite filtered through my Greek God like body.
You would have thought that this would teach me a lesson but if you know Kunal Desai circa age 21 years old. He was 7-feet tall had bowling balls between his legs and chick peas in his brains. God, I kind of miss him. So I said screw it! I’m going to double up at a dollar. Then I did it again! I then had some disaster forays into Exodus Communications, Williams Communications Group, Nortel, Lucent etc. I was really stuck on these telecoms because I kept watching on TV that they were cheap. Oh yeah did I mention how I kept doubling down like a coke addicted Bear Stearns broker till they all went bankrupt. Weird part was even as I was losing I was totally interested and wanted to keep trading, talk about crazed degenerate gambler huh.
I started to actually try to educate myself and started reading books on value investing and this investing blah blah blah. I tried charting but never really understood it. But after a couple years of losing my whole bankroll, I started to get it a little. Then one day I stumbled across Paul Singh’s blog Market Speculator. He had the simplest and most effective way to explain charts and the markets…then things started scooting. That’s what I aim to do here…Explain & Teach how this all works and make some serious cash!
We are going to use Bullsonwallstreet to take twittering about stocks to the next level…there will be an extension that goes beyond the 140 character posts. A focus on education and money/risk management are going to be key. Its one thing to post a pick but if we can reveal our methods, thinking, and research than we will be hitting Columbian drug dealer type returns.