Otten To Reportedly Buy Back Sugarloaf, Sunday River

[madskier6]

http://www.wgme.com/News/story_13.shtml

a bit more info. an admittance to his goals.

On a completely unrelated issue, what about the statement in that story that Otten played an integral role in the Red Sox winning the championship in 2004? Does anyone really think that is a true statement? I thought he was involved with the Red Sox as a businessman/money guy/investor not as a baseball man. Thoughts?

 

[shwilly]

On a completely unrelated issue, what about the statement in that story that Otten played an integral role in the Red Sox winning the championship in 2004?

Blatant butt kissing by a journalist trying to curry favor with the local big shot. Maybe they figure they can score some Loaf/River passes for next year.

Speaking of which....I have to admit, Otten stealing second in the 9th inning of Game 4 was probably the key play that started the whole magical run. It was even more crucial than his grand slam in Game 7!

 

[JimG.]

See you Sunday at K?

Unlikely...soccer season is in full swing and I've got 2 different games to shuttle my kids to and from.

 

[JimG.]

Yeah, I wouldn't touch that one with a 10 foot pole. Popular misconceptions can be awfully difficult to dislodge.

Then I agree to disagree with you and Andy.

I'm old fashioned...to me, the stock market is no more than gambling. And a true gambler breaks even. I learned long ago from horse racing that it's often better to just throw a $20 bill over the fence into the parking lot and just keep on driving than go in and lose hundreds because the fix was in.

My "misconceptions" come from our friends at Enron, Qwest, and others who have shown how the fix benefits them and no one else.

And now I end this unfortunate hijack.

 

[SkiDog]

Then I agree to disagree with you and Andy.

I'm old fashioned...to me, the stock market is no more than gambling. And a true gambler breaks even. I learned long ago from horse racing that it's often better to just throw a $20 bill over the fence into the parking lot and just keep on driving than go in and lose hundreds because the fix was in.

My "misconceptions" come from our friends at Enron, Qwest, and others who have shown how the fix benefits them and no one else.

And now I end this unfortunate hijack.

I will re-open the hijack then...JIM I totally agree with you on this particular issue.

Stock market is just another form of gambling. Might be slightly better odds depending on what you buy, but still gambling.....

Ok...hijack done

M

 

[MonkeyBrook]

Sorry, in my opinion that is a pretty silly statement. Go back and pretend like you put $1000 into the stock market in 1980. What is that worth now? Sure, if you are betting on one stock...yes it is gambling. If you mix it up and diversify....it was a heck of alot different than gambling.

 

[ctenidae]

Gambling is entirely chance. The stock market is not. In fact, there is no randomness in it at all. Sometimes seems like it, but everything that happens happens for a reason, whether it's possible to figure out or not.

As for Enron, Global Crossing, and the like, there are more than 10,000 publicly traded companies in the US alone. I don't think those few are representative of them all.

 

[aveski2000]

Want to make a small fortune?
Buy a ski area with a large fortune.

Hopefully they will come out with a season ticket deal soon.

 

[SkiDog]

Sorry, in my opinion that is a pretty silly statement. Go back and pretend like you put $1000 into the stock market in 1980. What is that worth now? Sure, if you are betting on one stock...yes it is gambling. If you mix it up and diversify....it was a heck of alot different than gambling.

Not much more different than spreading my money out across the roulette wheel.....


What if I put that $1000 all in the "wrong" stocks, and lost it all? Would it be gambling then? I prefer CD's or interest bearing accounts. The return might not be as great but its a CONSTANT..

By the way i've put plenty of money in the stock market and basically if anything its gone down. I look at most of my stocks as "long term" investments, but man....when you bought Microsoft at mid $60's its tough to think it was anything BUT a gamble..FAR too many outside factors involved in the market.


M

 

[SkiDog]

Gambling is entirely chance.

Is it??? Or are there ways to GREATLY reduce the odds? I believe the latter...


M

 

[ctenidae]

Is it??? Or are there ways to GREATLY reduce the odds? I believe the latter...


M

The House always wins. And no matter how much "skill" you put into it, it's still luck in the end.

As for investing in all the wrong stocks, well, you shouldn't have been trying to pick stocks in the first place. Investing is one of those things, like heart surgery and nuclear weapon design, that is best left to those who know something about it. Whether mutual funds or index funds, if you don't understand the market, let someone else do it.

On topic, I think it's cool Otten's getting back in the game. You know people will be willing to throw more money at him, so he'll be able to make improvements. It's not like he doesn't know anything about running a ski area.

 

[SkiDog]

The House always wins. And no matter how much "skill" you put into it, it's still luck in the end.

As for investing in all the wrong stocks, well, you shouldn't have been trying to pick stocks in the first place. Investing is one of those things, like heart surgery and nuclear weapon design, that is best left to those who know something about it. Whether mutual funds or index funds, if you don't understand the market, let someone else do it.

On topic, I think it's cool Otten's getting back in the game. You know people will be willing to throw more money at him, so he'll be able to make improvements. It's not like he doesn't know anything about running a ski area.

Yeah I used an investor and bought what would be considered "sure bets" like Microsoft....and still lost...SO FAR anyway...I havent cashed out so I might still win in the end.

M

 

[MadPadraic]

Unlikely...soccer season is in full swing and I've got 2 different games to shuttle my kids to and from.

Soccer season. Mmm. I just want take this chance to say, "hahahahahahahaha Man U. Hahahahahah, you stink in Europe without Keane, and not even Ronaldo diving can get you to the Cl final. Hahahahahaha. Also, hurray for Leeds being relegated again."

I want to go to K, but finals are getting in the way.

 

[jerryg]

The House always wins. And no matter how much "skill" you put into it, it's still luck in the end.

As for investing in all the wrong stocks, well, you shouldn't have been trying to pick stocks in the first place. Investing is one of those things, like heart surgery and nuclear weapon design, that is best left to those who know something about it. Whether mutual funds or index funds, if you don't understand the market, let someone else do it.

Very well put. I've made money and lost money, but the stock market is speculative risk. Prior to purchasing stock, you should know as much as possible about said company(s). Read annual reports, quarterly's, and SEC filings. Technically there is an element of gambling, but the people who spoken out against stocks on here have simplified it beyond belief. As far as stocks like Microsoft, it sounds like your broker bought at the absolute highest point Microsoft has ever been at $59.96, which was in the middle of the day no less. I'd be ticked off, too. It was a poor decision on said person's aprt, but you are right. You haven't lost the money till you sell the stock. Unless you are buying enough stock to make money off the dividend, buying a stock like MS isn't going to yield and return on your equity, especially in such a volitile market. It's a great company, but not exactly a blue chipper.

[/QUOTE]
On topic, I think it's cool Otten's getting back in the game. You know people will be willing to throw more money at him, so he'll be able to make improvements. It's not like he doesn't know anything about running a ski area.[/QUOTE]

Ah yes, the reason for the thread in the first place. I think LBO will be the new owner and Maine skiing will flourish once again...
...Not that it has done poorly in recent years, but our hills need some lovin'!

 

[MadPadraic]

The House always wins. And no matter how much "skill" you put into it, it's still luck in the end.

As for investing in all the wrong stocks, well, you shouldn't have been trying to pick stocks in the first place. Investing is one of those things, like heart surgery and nuclear weapon design, that is best left to those who know something about it. Whether mutual funds or index funds, if you don't understand the market, let someone else do it.

On topic, I think it's cool Otten's getting back in the game. You know people will be willing to throw more money at him, so he'll be able to make improvements. It's not like he doesn't know anything about running a ski area.

I know that your post was tongue in cheek, but come on. Oh, and regardless of whether or not there is a reason for market moves, short term price fluxuations still resemble a random walk.

As for Otten, part of the question on how effective he will be is what sort of terms can he get for mountain improvements? Can he avoid killer interest rates?

 

[MonkeyBrook]

I guess that is why they make 4% money market funds and 2% savings accounts. Diversification is the word, spread it around. If you invested in Dow stocks as recently as March 02'...you have seen the market go from its low to an all-time high. I am still confused as to how this is like gambling. As a previous post mentioned, everything happens for a reason.

 

[jerryg]

As a previous post mentioned, everything happens for a reason.

Indeed, and research goes a long way to understanding said reasons.

 

[ski_resort_observer]

yeah i agree. he made sunday river into a real contender then got greedy ...

I agree about the first part but not sure I agree he got greedy. When he bought SR and built it into a major player there was no ASC, no stockholders.

ASC was also after he bought SKI Ltd and was forced by the courts to sell WV and Cranmore. I guess the start of his big buildup or downfall was when Fleet Bank loaned him 400m to buy SKI Ltd.

ASC didn't go public until after most of his resorts were bought and not paid for. The stockholders are first priority with public companies as it should be. After all, they are the ones that own the company. BTW, I believe the CEO of ASC, BJ Fair gets a salary of $400,000.00. I would guess pretty much at the low end regarding public company executive pay.

 

[MadPadraic]

Very well put. I've made money and lost money, but the stock market is speculative risk. Prior to purchasing stock, you should know as much as possible about said company(s). Read annual reports, quarterly's, and SEC filings. Technically there is an element of gambling, but the people who spoken out against stocks on here have simplified it beyond belief. As far as stocks like Microsoft, it sounds like your broker bought at the absolute highest point Microsoft has ever been at $59.96, which was in the middle of the day no less. I'd be ticked off, too. It was a poor decision on said person's aprt, but you are right. You haven't lost the money till you sell the stock. Unless you are buying enough stock to make money off the dividend, buying a stock like MS isn't going to yield and return on your equity, especially in such a volitile market. It's a great company, but not exactly a blue chipper.

I'd have to disagree, MS is unquestionably a blue chip. Really, its hard to be the country's third largest company (by market cap), with the $30 billion cash on hand and not be a blue chip. Heck, they even pay a dividend. I also disagree that you don't lose money until you sell. Money in a bad trade is money thats not being put to use elsewhere; being given terrible advice by a broker sucks. That being said, your points about doing your own research are spot on.

 

[Goblin84]

this is one heck of a hijacked thread