Another Investing Lesson from Broadway Dan
Sorry, TMF El Capistrano, I mean Castrato, I mean CAPITANO will always be Broadway Dan to me.
It occurred to me as I watched his hilarious TiVo video pitch that I think TiVo is a really crummy stock. Dan loves it. I hate it. I've even written some pretty nasty things about the company, both in Caps, and for our main page.
(Investing lesson alert)
To my best recollection, though Dan loves TiVo, he has never once accused me of:
a) secretly being short the stock
b) pushing the stock down so I could buy it cheap
c) pushing it down so my short-side hedge fund buddies could get rich
d) pushing it down so my hedge-fund buddies could get shares cheap
e) pushing it down so my short-side family members could get rich
d) having a personal quarrel with someone in the company
e) having a "chubby" for the company
Nope. Dan has done none of this. It's not because he spends his free time in some West Hollywood opium den, too numb to read the yahoo ticker feed. It's because (shocker on the way) he realizes that the stock market is a market of stocks. He knows that a market of stocks is a market of opinions. It's a market of ideas. It's a place where you ignore contrary opinion to your own peril.
It's also because he doesn't have his ego attached to his stocks. He knows that stocks can be fun, and stocks can be enriching. But he knows that Dan <> stocks and stocks <> Dan.
It's because he is, in short, a Fool.
Or maybe it's because he knows I look better in tights.