OT, as not pure GG'ing---
Hi Bruce,
RE: Your questions about the Bob Brinker call---
Questions dealing with tax consequences:
ANSWER: Not relevant in my specific case, as this is tax-deferred money.
Questions as to "How is it going with the QQQ call"
ANSWER: This one is going badly, so far. Depending on when
one got the newsletter (or the news of his call), if one
acted immediately, one bought in the low-mid 80's. I got
the call a little late, and made my first buy in the high
70's. I've continued to buy on the way down, having done my
most recent buy in the high 50's on Thursday.
I'll say 3 things about all this:
1. Nothing/nobody is always right as to timing. I followed
this call of Brinker's, and- so far - I am negative on this
portion of my investment program. I don't hold Bob
accountable for this reduction in worth.
2. Brinker does better on his long-term recs than on his
short term ones. I give him great credit for taking me
mostly out of the market in Jan. I have stayed mostly out
ever since (though I've stayed in my gorillas and a few
others); the QQQ investment is only a small part of what I
had in the market last year.
3. I didn't answer the query in the spirit of "Look what a
great strategy I have." It was more like, "Here's what one
(partial) GG'er does besides GG'ing." I'm retired, and I'm
not willing to put all my eggs in one basket.
(e.g., strategy)
As with LTB&H folks, I won't measure the success of this
multi-pronged approach in one year, but I'll measure it over
several years. Unlike some of the dot-coms, I'm reasonably
confident (though nothing is assured) that QQQ will be well
above the 80's within a few years, if not a few months. But,
whenever Brinker says sell QQQ, I'll probably do so, and
hold that money as cash until he calls another counter-trend
rally, or until he calls MOABO (Mother of All Buying
Opportunities - i.e., the bear market bottom, or near-
bottom) When Bob calls MOABO, I'll commit much of my other
cash (now in bonds and MM's) too.
d
PS: Bruce, I've greatly enjoyed, and profited from, your
posts over the months. Ditto all the other posters who
have given so much to us lurkers on this board. IMO, this
is, by far, the best board on all of SI.
I would have responded to the "What's your portfolio"
survey, but time ran out before I got it done. I'll just say
that the GG portion of my portfolio is similar to the
average of what was posted. My GG stuff, overall, is down
this year, largely because of overinvestment in QCOM. (Which
I am holding, of course) I hold no one accountable for the
negative performance of my GG portfolio except myself. |
