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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: tekboy who wrote (24766)5/15/2000 12:48:00 AM
From: Mike Buckley  Read Replies (1) of 54805
 
Great post, tekboy!

Different strokes for different folks, in other words, so it's not surprising that the subject produces flame wars.

Actually, I never have understood why some of the people in the two camps (LTB&H and trading)are so sensitive about their chosen method.

Merlin and, say, Voltaire are different people, with different skills, and should follow different approaches.

I don't know anything about Voltaire, but I would like to add that to put the skills of long-term and short-term stuff to use, the two skill sets require different kinds of discipline. I believe a lot of people have the requisite skills to use either method profitably but lose out because they someimes lack the discipline to put the skills to use in a consistent manner.

I should add that for a couple of years I have reserved about 10% of my portfolio for some short-term opportunities in the form of screaming buys that become apparent to me as a result of my daily reading. Because I determine those opportunities using traditional valuations, you won't be surprised to learn that it's been a long time since I've discovered any. As a result, I've used most of my cash position for long-term opportunities that aren't what I call screaming buys.

--Mike Buckley
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