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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: Uncle Frank who wrote (47024)9/22/2001 10:41:56 PM
From: Mike Buckley  Read Replies (2) of 54805
 
Speaking of lectures ... :)

It was refreshing to watch Peter Lynch on television today. He was fielding questions from the audience, e-mails, and people on the street who were talking to roving reporters. The refreshing aspect was Lynch's recommendation that everyone think in terms of 10, 20 and 20 years for their investments, that they look closely at the balance sheets of the companies they invest in, and that they thoroughly understand the company's business before investing.

He advised everyone to write on a piece of paper three specific reasons for buying a stock and that the expectation that the stock would go up is not an allowable reason. He said that the best reason to sell a stock is because at least one of the three original reasons to own it no longer exists.

The most refreshing comment he made is the reminder that, on average, over the last forty years if an investor had been out of the market in the wrong month of every year, the investor would have enjoyed only a 3% increase. The corollary is that, on average, the market tends to go up quickly and only 8% of the time; if you're not in the market during that 8% period that it goes up, you don't benefit from the upswing in stock prices.

--Mike Buckley
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