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Technology Stocks : All About Sun Microsystems
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To: JC Jaros who wrote (32763)6/13/2000 7:27:00 AM
From: lee kramer  Read Replies (2) of 64865
 
JCJaros: I gotta hand it to you...80% of your holding in SUNW with a cost basis of 6 is remarkable. But what if this fine company's stock is topping out? What if it falls back to 40 or 45? I'm not suggesting that it is...but I've seen greater companies' stocks decline 50-70%. My suggestion to "trade" and take profits on 20% of a position was just that...a suggestion. And...yes, it often "works", nor does it "contaminate your position"...unless your position is absolutely inflexible. And, while selling a bit to take profits occasionally may be referred to as "second-guessing"...one could easily make the case that holding... no matter what... is a graver sin than what you describe as "second guessing". I consider it prudent, you see it as "second guessing"...so we disagree. I guess I have a problem with a #1 rule that says never to utter the word "sell" in the same sentence with SUNW...or ANY other stock. Can a stock one clearly loves see it's p/e multiple cut in half in the marketplace? Can a competitor come out of-left-field and hurt the company? Can there be "accounting irregularities" or any number of other unpleasant and "unexpected" surprises? Sure. And having 80% of your assets in one stock can be considered a very risky play; it can work out great...as it clearly has for you...but it can also hurt if the unforseen occurs. Hope none of this nasty stuff ever happens...and that you continue to do well. (Lee)
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