A Neutral one
Stating that Tobins system is a market call is stating the obvious. The market this last 6 months has taken its toll on nearly ALL stocks, not just Smiths. Of course his have taken a hit. Show me a sector of technology stocks that hasn't corrected off from the enormous growth of last year. If its a stock or a sector that hasn't corrected off then its not going to give you the returns that you're looking for in an "aggressive growth" portfolio. And thats what Changewave is, an Aggressive growth play, over a longer term hold. I'm not kissing his ass, I have lost nearly 50% of my available cash that I set aside for aggressive this year so I can sympathize with an individual that lost 6 figures. BUT... did the individuals that have lost so much get in, in thirds, at his buy/try under prices??? Did you cover potential downturns by religiously protecting with the sell stops recommended. No you didnt. You couldn't have or the losses would of been minimal and you would have the cash ( but obviously less of it) to get in now at these ridiculously low prices.....I lost and in looking back its because I didnt follow Toby's guidelines of averaging in in thirds and most of all I didnt protect with the stops. If I had I'd be in much better shape right now and I would still invest in the technologies that he advocates. Look where these stocks ( for the most part ) have been in the past, and look at the phenomenal performance ( using DD ) that they are continuing to exhibit. Look where Intel, Cisco, Microsoft, have been and currently are. Where do you think the next generation of %1000 companies like them are going to come from? Do you really think for a second that these cutting edge technologies in Changewave are not going to be widely accepted in the future? The only thing certain about the future is that there will always be cutting edge technology that becomes commonplace, and highly profitable! Is it a conflict that he plays a hedge fund? Probably. But you would need to know what its invested in, and anyway isn't that smart protection investing, especially with the bull market and if you have the cash to pull it off? Is his "alliance" a sham? Who knows, but, Wipeouts not withstanding ( common sense would dictate playing the wipeouts for only short term pops, and in this current market ? c'mon ),the vast majority of his picks are putting out continous kick ass numbers. When this market gets its head out its current ass, stabilizes, and puts the proper values on the technologies of the future where they belong, then we'll see. Let the market become well again and see if these companies are not worthy of our attention. I've lost, but I'm holding ( PRSF, MRVC, GLW, BFRE )and I believe that his companies are the ones you play with your risk money. Don't cry about loosing risk money, remember its an aggressive growth play, not your core retirement holding.
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