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Technology Stocks : American Power Conversion
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To: Mad Bulgarian who wrote (1411)5/31/1997 9:56:00 AM
From: Gil Gilbertson   of 2574
 
Re your observation of the Herd Mentality. It is present , as you
stated, in all human behavior. This is the value of Tech Analysis, as
it puts in chart form the decisions of the investors as they cast their
votes by selling and buying. In 30 years of investing, it is obvious that if you follow the herd long enough, you will go over the cliff. Those who like action and try to time the herd are called momentum
investors and it is a wild game. Those who went against the herd
this a.m. when stocks like Cisco dropped to 62 only to close at 67
were rewarded. The herd members who panic and sell, lose.
If we are successful at tracking the herd and developing foresight,
and couple that with understanding the fundamentals, we wont
panic and will improve our perfornance. But despite our efforts we
will continue to make errors in judgement, lets just shoot for being
right 52 per cent of the time. ..gil
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