Eric,
Excellent post. (Whether you agree or disagree with Eric, you have
to say when he puts an effort into something, he goes all the way).
>> PS It might be interesting to hear other forum member's investment philosophy and ideas on investing. No one way is the best or correct way.<<
As you say, no one way is best or correct. I use both. I use a
money manager (and I PAY for that performance). But in some
other cases, such as NOVL, I am in line with you, as you say:
>> When I invest my own money, I must answer to my own criteria, my own decisions and to me only. If I am responsible for other people money, my overall philosophy might change. That is why I only trade my own account. <<
One last word of advise...People in general are greedy and want to make the fast buck with no risk...the sure deal. Well life is not always that straight forward. Believe in your own research, your own information, do your own thinking...nothing gained is ever free and requires hard work and always a bit of luck. Luck for your management, luck for your products which you sell, and perhaps a bit of bad luck for your competition. You can minimize the 'luck' component if you do your research on your products, management's experience and previous track record, and the overall industry outlook for growth. <<
Yep, that's exactly how I traded, Cisco, Micron, in 95 and IBM in 94'
and DEC in 95-96. Matter of fact I bought Cisco at I believe 22, and
it dropped 4 points in one day to 18 (believe me, it was pointed out to me, but still I felt pretty good about that company's future prospects). Well you know what happened after that <g>.
Like I say -- you gotta do what you gotta do! <smile>.
Joe... |
