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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: shamsaee who wrote (25805)6/4/2000 10:46:00 AM
From: Mike Buckley  Read Replies (1) of 54805
 
Shamsaee,

He also pointed out that the true metal of long term investors is tested if you go into a bear market where you don't have huge drops but the index losses 20 to 30 points a week for a prolonged period of 2 to 3 years and most people can't take the slow bleeding and check out because job losses are frequent and people start liquidating stock positions to cover their expenses and at many instances sell at the lows.

I agree entirely. Most of us (me included) have never been through that kind of market. However, it may be a very, very long time before we do. There will need to be some macro-economic conditions not currently on the horizon that will cause such a market. And given the nature of the volatility your friend spoke about, that volatility tends to make retrenchments deeper, sooner to happen and sooner to recover, making a long, protracted retrenchment less likely. Just an opinion.

His last words were to diversify some of my investment in the form of Bonds and CD's from my profits on stocks.I know it sounds boring and old fashioned but It does make sense.

Not to me. I think I've given the reasons here often enough that I won't bore anyone with them again.

The lesson I took from our conversation was, before any one decides to be LTB&H investor(10 years minimum was his words),you should prepare for the worst and have adequate reserves set aside.

And what would be different about that suggestion for a short-term speculator?

--Mike Buckley
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