Or we note the ownership life cycle as a former growth stock such as Microsoft (MSFT, news) ages toward a value stock, losing one type of investor as it picks up another.

我们注意到，过去的成长型股票，例如微软，成长为一只价值股的生命周期中，会失去一类投资者，转而由另一类投资者持有。

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However, they also note that if you bought a small-company stock right after he recommended selling it, you got the best returns of all.

然而，他们也提到，如果你在他推荐抛售一家小公司的股票之后，马上买进，那么你会得到最佳的收益。

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Even more striking, the researchers note that achieving overall success was less important to the stock speculators than the sadistic drive "to damage their opponents."

更令人吃惊的是，研究者们发现，对于那些股票投机商来说，狠狠打击对手的冲动似乎比获得全局性的成功更重要。

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Dendreon was the worst-performing stock, as its note that sales of its prostate cancer treatment Provenge would be lower than expected led shares to crater 67%.

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The same will happen to FB stock. (Note: Silverline is down 98% from 2007 launch.) Remember the hype surrounding Reliance Power (BOM: 532939)? (Note: Reliance Power down more than 60% since IPO.) Brokers brayed and pushed the retail investor to invest and what happened was the retail people lost.

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Note that stock based compensation and corporate expense are not allocated to the geographies or retail so that the numbers do not add up (as you can see by the companies total operating margin declining 620 basis points in the fiscal third quarter but all of the geos are less than that).

FORBES: Which Apple Geographies Impacted Margins?