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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Boplicity who wrote (34673)11/13/2000 11:35:00 PM
From: Mike Buckley  Read Replies (1) of 54805
 
In fact the Last few years could of been a market of a life time.

I'd like to emphasize Greg's comment. By almost any measurement, the last five years of the previous decade was unprecedented over a period of time spanning many lifetimes. That doesn't mean it can't happen again. In fact, we could present some fine arguments that it could happen again. But until it does, that unique five-year period is certainly the market of a life time.

Why is that important? Awareness of the unique nature of the period makes the imperative need to sharpen our investing skills more evident. Regardless of how successful we were as investors, a tremendously important factor of our success was that we were fortunate to be investing during what was arguably the easiest five years in the history of investing. Remembering that the Nazdaq increased about 125% in the roughly 15 months beginning in January, 1999, that might have been the easiest single year to be highly successful over the short term investing in high-tech stocks. Increasing our net worth in the stock market probably won't be that easy for the rest of our lives.

--Mike Buckley
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