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Strategies & Market Trends : Angels of Alchemy
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To: Bald Man from Mars who wrote (20001)11/11/2000 9:14:37 PM
From: Jack Hartmann  Read Replies (2) of 24256
 
You can't go until you win an SI award. <gg> Besides, you saved me from buying YHOO at $115. I owe you a nice lunch in Aurora.
I think I hold the record for worst decline in a year. In 1994 or so, I bought TLTK at 25 cents, watched it go to $6 and then to zero. My other holding was LTV which was coming out of bankrupty. My friend, the experienced stock picker said put your money in LTV. It went down 70%. I took what what was left and bought Fonic which went bankrupt. Seven years of foolish trading down the drain in a bull market. This happen with three kids in diapers. I watched another friend turn 50K in 500K in the same seven years so I felt even more dumb. I finally started reading about the successful investors, and looked at earnings, PEs, revenue growth and all the other fundementals.

This market took out Soros and several others. Over half of the professional market funds managers are in the red. This is with all their hot shot computers and research advisors. Money under the mattress is beating most peoples' portfolio.

Last year Buffet was the whipping boy down 25% when the S&P index was 20%+. He turned it around this year. He showed that you can have a god-awful year and come back later. Vinik left Fidelity Magellan after missing the bull of the mid 1990's which was about the same time I was down. He came back an killed them the next seven years.
You can too. Everyone has a bad year. More so when the Nasdaq is negative 25% for the year.

Jack
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