my thoughts exactly. I took a small position in INTF after math's Hunt Report, by which time it had risen to 38. It drifted down, then back up again, and eventually I sold in the low 40's to reduce some margin debt. I was a bit jealous, but not too much so, when it ran up afterwards, but was (and have continued to be) more comfortable holding my Gs and Ks...
I am moving ever closer to the idea that one should think of one's account as being composed of two parts (or just get two accounts): an LTB&H core, composed of Gs and Ks, and a short-term periphery for fun (pebbles, momos, options, etc.). Each kind of investing needs its own distinct discipline...
tekboy/Ares@BWTFDIK.com
PS but one demurral to frank's point about holding Kings lightly: as I understood it, that was because Kings can lose their competitive positions quickly. The implication was to monitor the fundamentals closely and sell at the first sign of trouble there, not watch the stock price closely and sell when it goes down... I.e., if a good King drops dramatically in price but with its long-term future prospects unchanged (can anyone spell N-T-A-P?), you shouldn't bail but rather keep holding... |
