Marco Polo,
I just wanted to let you know that your observations on DRTN are a welcome sight.
On the basis of the Peter Lynch argument (and it is indeed a good philosophy), I am one among others who have not cleared his hurdle with this particular industry.
But(perhaps ironically) by the nature of the business I am in, I cannot possibly commit enough time all by myself to become an expert in the various industries I trade or invest in. There are over 13,000 stocks out there, and therefore I must adhere to the economic principle of comparative advantage to help me in the investment decision-making process. There are others out there whose opinions I respect, and that I know are better specialists in the field.
That is where what I call the 'mastermind' approach becomes indispensable. In the portfolio management business, I cannot become the expert in everything, but I can turn to those who are specialists in their respective fields, and the decision is then left to me to decide which resources I will implement, and which not to. Like the general is to his troops, the portfolio manager is to his analysts; each oversees the direction of the operation, but in many instances, is not actually on the 'field of battle,' so to speak.
Rainier |
