March 8, 2004
Hold, Martha, Hold
If there was one lesson I learned from Grandpa, Dad and the Motley Fool -- its hold your stocks. Nearly all good companies always and eventually go up and to the right. The market is a long term investment vehicle.
As we all know, Martha only dumped around $50,000 worth of stock. Pretty low considering she is a billionaire (or was at one time). Nonetheless, lying about it just pisses people off and that is why she is going to jail. Maybe Martha got used to lying. Everytime I randomly saw her show, she was talking about how good this and that was. It probably actually tasted like shit now and then but we have a TV program to run here, people.
Anyway, to my point, the irony in all of this is that if Martha would have just held her stock, she would have been fine. Why? After Martha sold on that insider news, the stock did eventually plummit to the single digits. But now, a few years later, ImClone is just shy of its 52-week high back above the price Martha dumped it at back in 2001. Oh, the irony.
See women should just stick to baking cookies. ;) (Let the comments begin.)
