Wind River going up, up, up! Message Board

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Technology Stocks : Wind River going up, up, up!

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To: Allen Benn who wrote (1244)	6/10/1997 8:39:00 AM
From: Allen Benn	of 10309

> The single biggest mistake investors make is to sell winners and hold losers. Apology. I should have referenced my source for this bold statement. It is a paraphrase from a recent article in Barron's on Fayez Sarofim. Who is Sarofim? Is he worth paraphrasing? I think so. He has amassed a $1.2 billion fortune, and manages over $40 billion in assets. His forte is picking blue-chip growth companies, for which he is willing to pay a premium. The paragraph that caught my eye, was the following: Unlike Buffett, who can hold forth about stocks and investing for hours, Sarofim is a man of few words. When he does speak, however, he does so with confidence. Waving a cigar for emphasis, Sarofim makes an intriguing point: "Basically, most investors tend to sell their winners, and they hang on to their losers. They say the losers will have a better day. I think we have made that mistake, too. The opposite strategy is the one that pays off. You should double up on your winners and sell your losers." Mark, on the other hand, advises taking profits in WIND and buying --- what? Allen

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