OT Sam -----------------------------------------------------
Your post deserves a response for the record. Although I have never had any reason to ever say anything, offensive or otherwise, to you, you chose to insult without taking the time to think before you wrote. Maybe that is your style but thats your problem.
You mentioned VISX and VLNC.
Peter Lynch observed that 6-7 out of 10 right is good enough to beat the market. So you picked one out of 21 I own and 1 I do not own to trumpet your biases.
Over the last 3-5 years I've done significantly better than 7 out of 10. In this space, last year, CLS was the top performing stock and FLEX was #2 among the top tiers. I started accumulating CLS in December 1998 and by the end of the year had owned XX00 shares. Most of them were bought before the end of March 1999. The other core position in the space held throughout the year was FLEX/DIIG. In late December and January, I sold half of the CLS position at an average price within 10% of its top. Neither CLS nor FLEX/DIIG are among the top 4 performers in my portfolio over the last 14 months. I continue to hold both of them and SCI as core positions in the ECM industry.
You mentioned VLNC, which has moved from 4 to 38. I remain skeptical about the company. Instead of it, I've owned CKFR, which has moved from sub-6 in Oct. 1998 to 125 recently. Though I sold most of it at an average of 84, those sales amounted to just over a ten bagger.
You mentioned VISX. The stock has tanked and I continue to hold over half of a position I began building in 1994. It has not been a good decision. At the same time my average cost is substantially below where the stock price is now.
You didn't mention PMCS, JDSU, VIGN, SFE, SONE, CTXS, CSCO, CKFR, RFMD, CBS, CLS or FLEX among others.
I don't trumpet buys and sales like some do. But don't assume so much because it makes you a fool in my view. |
