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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Uncle Frank who wrote (12872)	12/16/1999 9:58:00 AM
From: Mike Buckley	Read Replies (1) of 54805

There's a lot of talk this morning about waiting until a company posts a profit. There's much more to limiting risk than posting a profit. Look very, very carefully at operating cash flow and the quality of the balance sheet even if the company is posting a profit. Look at the greatest of all gorillas and invest in companies whose financial statements emulate them -- lots of operating cash flow, no debt, and massive margins. Moore & Gang didn't discuss that mostly because those are the typical symptoms of gorillas and leading wannabe gorillas. By necessity, companies in royalty games rarely have the same quality in the financial statements that the leading gorilla players have, and that is one of the reasons the royalty stocks pose far greater risk. Please folks! Heed Frank's comments about the current market. The Naz is on a tear. This is a market in which it appears that it is really difficult to do wrong. When the market turns, the investing mistakes will be brought to light and the companies with the weakest financial statements will likely fall far and rapidly. --Mike Buckley

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