Tips

January 7, 2025 |

the sage says don't follow tips, and the palindrome cautioned me not to follow his tips, especially when they were on tv. yet the most successful investor I knew in my 65 year foray into investments followed every one of them very successfully.

i have two tips I received at a recent lunch with a very successful and knowledgeable biotech investor - Crispr and Biomarin - both are down about 1/3 last 12 months.

the worst experience i had on tips came when I was writing for MSN with Miss Kenner. the tip was to buy a company that was a consolidator. their last consolidation involved a garbage disposal company. i posted this in my column. the next day the stock opened -15%.

it turned out the tipster took the occasion to unload his holding of the stock the next day. He had recently recovered from a year in Jail with his only complaints being they didn't serve kosher food. he sensed how easy it was to sucker me.

i used to trade 2000 gold contacts with impunity. the position reached a critical stage in 1981 in the midst of the Polish crisis. fortunately I had as a partner at that time a Prof at Harvard who was very close to the dean who had been an ambassador to Hungary.

My partner transmitted to me that Russia had to combat this insurrection. I sold out my long position based on this tip. the next day Russia didn't go in and gold went up 10%. as this happened some 50 years ago, some of facts may be off but the gist is true.

bring bak to mind the old horse racing tip joke of 78 years ago. it ends with not following a tipster's suggestion that turned out rite 3 times in row. finally he asks me for pop corn and I bring him bak cracker jacks. "you know I cant digest cracker jacks. i have false teeth."

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