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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: Joshua Corbin who wrote (35441)11/27/2000 10:29:11 PM
From: Mike Buckley  Read Replies (1) of 54805
 
Joshua,

A personal thanks for your cogent thinking about stuff you've seen in the thread. I promise not to rant. :) Just the opposite, I hope your comments cause some people to sit up and think.

I hope you don't mind if I comment about each of your good points.

-- The QQQ as a substitute for the broker's money market sweep.

I don't remember seeing that but I agree with you that QQQ shouldn't be used in that role.

-- LEAPs as long-term investments.

Hallelujia! I'm not the only one who thinks they aren't long-term investments. (I do own LEAPS in Qualcomm but wish they were available in terms at least as long as five years.)

-- The claim that "Gorilla stocks are the only sure things."

Bruce especially likes to point out that even the manual mistakenly sez they have had the best returns on the planet. And I also don't like the claim you mention. They tend to be superior investments so long as their CAP remains in place, but the difficult part is determining when it ends and what it's fair value is.

-- People jumping to buy stocks as if Project Hunt was the gold standard.

The people who do that generally don't do their own due diligence. They subject themselves to greater risk in the process. However, I do believe that many of the Project Hunt reports are superior to almost all of the analysts' reports and media write-ups I see. In that sense, the reports often are the standard to which other writers should aspire. But as you mention, people shouldn't buy a stock on the basis of a Project Hunt report or any report.

-- People fussing and fuming because they didn't sell QCOM at 200 - or buy it all back at 55.

Yeah, well, people are sometimes fragile and vulnerable. I sympathize with them despite that I think the solution to their problems is to simply buy and hold while the CAP remains in place.

-- That TFM/TRFM is the best investing manual for utter newbies.

It might be one of the worst. A lot of people I respect greatly who have been investing for a long time never get past the first several chapters because they have a hard time dealing with the realm of technology. My vote for the best newbie manual goes to the Motley Fool Investment Guide.

-- Unprofitable companies as Gorilla candidates.

People buying those simply aren't playing the strict Gorilla Game intended for risk-averse people with limited financial resources. There will always be variations on the game, and I allow people to take on those added risks if that's their choice.

The reason I took the time to embellish on each of your points is because I belive they deserve special attention. Thanks for sharing them with us.

--Mike Buckley
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