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Technology Stocks : Vignette Corporation (VIGN)
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To: brk who wrote (339)4/13/2000 12:30:00 PM
From: Wizard  Read Replies (2) of 628
 
Thinking back on previous corrections tells me there are two ways these things tend to play out. In 1994, interest rates were surging and it just didn't allow the excitement to return for an extended period of time. In 1997, I remember various companies which were viewed as growth leaders really had their business momentum halted. I remember the entire telecomm/networking theme hit a speed bump which really hurt Ascend and Cascade and Cisco. That theme was huge in growth investors minds. AOL also had that trouble with its modems. That correction lasted 4 months and had some basing involved. But 1998's correction was the spike down, come back with a vengeance as it was coming off multiple quarters of underperformance by emerging growth stocks.

All that though just confuses me and thinking too much about it might make me avoid something that could end up returning 30x so I just do this; add to your favorites over time and don't worry too much about where the stocks move in the short-run. If they get beat up and you have true belief in them, add a few shares. Be patient and let the market help you build your biggest positions through appreciation. Time is on your side so let the power of compounding work FOR you. As my profile now reads, "Darwin was right." Its survival of the fittest and most tech stocks are bad investments. But the good ones that are 'in the zone,' like Vignette, can make you rich.
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