Eric,
If I've in any way offended you, my apologies.
Regarding your survey, I've never held a stock for a really long time. I'm still learning to implement the LTB&H strategy. I do know of someone who as of a year ago still owned all of his shares of MSFT bought at the IPO. And I know of a gentleman who had owned several stocks for more than 30 years.
why do you respond with this "if you are so good" nonsense? I never said I was good.
You're right, of course. You never did. That's why I wrote "if you profess." I was giving you the benefit of the doubt that you really might be that good and that you had come to your conclusions about the merits of short-term methodology based on personal success. And I meant it very seriously that if you are that good, I'm genuinely thrilled for you.
Is it an attempt to belittle?
Not in the slightest.
So why do you say LT is superior to ST?
I think I've explained that fully. I can't add anything that would be constructive.
For every analysis you bring forward, by reducing the time period I can show ST was superior.
What's the point, though? Taking a short-term period out of context of a long-term period only addresses part of the performance period. The rabbit was leading the tortoise for part of the race, but the tortoise crossed the finish line first. What is the validity of reducing the analysis of the race only to the portion that the rabbit was temporarily ahead? (Rhetorical questions.)
Why do you always tout the benefits of LT over ST on the threads you post?
Let's put my posting into perspective. Until fairly recently, I've posted regularly on a sum total of six threads on the Internet -- three stock threads (Siebel, Gemstar and Citrix), a nonsense thread that is nothing more than a social club, and two Gorilla Game threads. Now that I've lost interest in Citrix, I've been posting only on five threads regularly in the past few months. Probably 90% of my posts about investing appear on just one of those threads, the G&K thread. That's a thread dedicated to the discussion of Gorilla Gaming which is by definition a long-term strategy.
That's only part of the reason I post the benefits of LT strategies on that thread. The other reason is that I have immense sympathy for the people who feel whipsawed by the recent downward volatility in the market, especially those that began their investing career in the last year. By giving them a long-term perspective, I hope my posts ease some of their understandable angst. The feedback I get about those posts motivates me to continue with similarly supportive posts.
Remember I am responding to your posts, not the other way around.
Though I might have posted about LT strategies on the stock threads, I don't remember doing so and certainly not on any regular basis. The reason we've had this discussion about the merits of LT investing is because you asked me about it in your post specifically addressed to me.
To ask someone "What do you care..." isn't in very good spirit is it Mike? Why go to this level with me then?
I'm not sure how you took my question and I certainly meant no ill will when I wrote it. I simply wonder why you care that someone who posts almost entirely in folders dedicated to the discussion of a long-term strategy would write about the efficacy of long-term strategies. Having reviewed the question, it doesn't appear out of line to me.
Since this folder is dedicated to the discussion of a specific company as opposed to an investing strategy, I wouldn't want to use more bandwidth pursuing the merits of LT methodology vs. ST methodology.
--Mike Buckley |
