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Pastimes : Home on the range where the buffalo roam
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To: Sig who wrote (3925)8/19/2000 9:53:39 AM
From: DlphcOracl  Read Replies (3) of 13572
 
Sig: The Death of "Buy and Hold".

Up until this year, I was convinced that "buy and hold" was still the best investment strategy for larger cap, franchise tech stocks. The 25-40% correction during the summer slowdown was predictable, but trying to time the peak and buy at the bottom, with tax consequences factored in, usually was not profitable.

This past Spring has taught me differently. When franchise tech stocks sell of 50-75%, which they did from March 7 through May 21, it is obvious that this strategy no longer makes sense. In the future, I will sell a considerable portion of my holdings in late February and early March, short the NASDAQ, and then wait to buy these same stocks back.

Someone once said that if you were going to invest in tech stocks, one should do so only from mid-September through mid-March and take the next six months off. Although this was said "tongue in cheek", the NASDAQ's action this year and the hypervolatility of today's NASDAQ market make this a strategy to seriously consider.
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