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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 249.14+0.3%3:59 PM EST
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To: Bill Harmond who wrote (93545)2/15/2000 12:09:00 AM
From: Randy Ellingson  Read Replies (1) of 164684
 
William-

I hope I'd be the last person to question anyone's performance, and I'm not trying to do that here. Essentially this post ought to have come earlier, but I'm wondering about your apparent market-timing decision near the year-end/year-beginning.

I still think that the approach of buying and owning the best companies, and keeping them through the market's (and the Fed's) motions is the best investment strategy for those with the intention and time horizon to comfortably own a company for a long period of time.* I don't see the Fed's action as a market indicator, but more as a guide for the economy who is actually on the stock investor's side. They want steady growth, right? Should be good for us. Of course the market will still slide, and sometimes for long periods of time.

*This is certainly not to say stocks don't require selling, and at times unexpectedly early, and for a loss. Those are the mistakes, and seem to be no big deal when dealt with in a timely manner. And my belief in that approach (buying what I see as the best companies, and holding them) will certainly be tested when the market does go south, and stays there for years. It'll then be time to use more research and conviction that today's market demands.

Randy
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