Point #4, Sun Microsystems
I'm think Sun stumbled into a great business and executed wonderfully; however, I think they focus too much on beating Microsoft they're losing track of what's important.
A no-brainer investment philosophy: Don't own Microsoft haters! We've seen other companies become fixated on bashing Microsoft to the point their own business deteriorates. Examples: Apple, Novell, Lotus, and WordPerfect. These companies engaged in a 'Bash Bill' strategy and paid a hefty price. (Sun's not 'paid' YET!) In fact, once these companies shed their 'BB' management, and became Microsoft co-operative, they're no longer in danger of disappearing.
A buy and hold strategy seems to work for me. The trick is choosing what to buy and hold. I agree with your list. I've even made profits holding SUNW, LOTS, and AAPL, a few years ago. I bought what looked like good candidates for appreciation with the intention of holding long-term. Over time, I've done some pruning (weeding?) as necessary. I guess this is what investors do!
Cheers, PW.
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