John, thank you for the enlightening lesson in investing. It would fit my style if I was a fund manager, but two visits per year to each company I am invested in and talking to management (and I can see MRK's management finding time to talk with me, of course), with the 25 stocks I am typically invested in, would require I spend all my time managing these funds. I got to find a short cut, that is why I look at the SEC documents and the technical behavior of the stock. Apart of that, "having been" management myself, the last thing I would want to say to an investor is "all the truth and absolutely all the truth", I would not lie, of course, but I would "giggle" (or was it "snickering? <VBG>) if need be. Thus, being on the other side, I rarely talk to management, it clouds my rational deliberations.
Zeev |
