First of all, I respect Andrew Barry's no nonsense reporting skills, but he's no Wall St trader, he's not an instituional fund manager, and he doesn't manage any mutual funds. He might have a portfolio of Treasury securities, because, as a Barron's writers, he's rather restricted in what he can do with his own monies. Much as Chief Fed man Alan Greenspan has to put his $4 million into a blind trust, investing in short-term Treasury bills.
With the above in mind, Andy probably saw the net stocks passed him by many, many times over the last 5 years, without him on board. As he and many of the shorts here (who gets by on a few points here & there whenever the nets correct) gets increasingly bitter, with their perfectly safe (G-rated) portfolios growing at 8 to 13%, they have increasing disdain over those with a long-term view. A view that, by investing (not day-trading, seconds trading or scalping) over 3 to 5 years, a collection of fine techs, like CSCO, ICGE, CMRC, ARBA, AGIL, WCOM, INTC, DELL, and MSFT (to name a few), will almost assure the patience ones a market-beating return. For the records, if you had invested in the above over the last 5 year period, you would have outperformed the market by 3.5 folds.
Cheers, Patsy. |
