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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 71.62+0.8%11:08 AM EST
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To: Monty Lenard who wrote (35393)5/11/2000 8:00:00 AM
From: GVTucker  Read Replies (2) of 77397
 
Monty, RE: Have you noticed how the brokers et al pull out charts going back 50 years and talk about how if people had just held they would be so many dollars ahead. That is PURE BS.

Pure BS indeed. It all depends on where you start the clock and end the clock.

Go back to 1980. Back then strategists were pulling out all kinds of charts that showed how hard assets (gold, oil & gas, real estate) outperformed paper assets (stocks & bonds) over the long run. Wealthy investors were having their assets put into real estate partnerships and oil & gas partnerships and gold bullion, all because some long term chart told them to. Of course, looking in the rear view mirror was a foolish strategy then, and those prescient enough to look forward and begin to see the back of inflation get broken could make a lot of money in paper assets and avoid losing a lot of money in hard assets.

Fast forward to today, and look at the basic argument that you get from a lot of people who hold very expensive large cap stocks: "I have made a lot of money in this stock, consequently I will make a lot of money in the future with this stock."

I just hope that I am patient enough to wait until the buy and hold mantra is completely destroyed until I buy aggressively.
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