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Strategies & Market Trends : Gorilla and King Portfolio candidates - Moderated
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To: straight life who wrote (55)10/25/2003 10:06:10 AM
From: Mike Buckley  Read Replies (1) of 2955
 
Larry,

Rule 10 (and Rule 4), which in hindsight seemed to be a license to do nothing but sit on my ass as prices plummeted.

I agree that those two rules are flawed. If that's true, their flaw is rooted in the authors' errant notion that Gorillas are always undervalued. #4 and #10 should probably be amended to state that at lesat some of a stock position should be sold once the stock valuation becomes too high.

However, I have a thought about looking back and saying, "Had I paid attention to the valuation, I would have sold near the top before the prices plummeted so far." I think that's probably faulty thinking for almost everyone, certainly for me. Had we paid more attention to valuation we would have sold those positions long before the stock prices got so high. The profits we would have protected would have been much smaller.

--Mike Buckley
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