Apollo,
Thanks for this effort.
Hope you have received many PMs, since the public responses have seemed fewer than in earlier years - perhaps in itself a comment which speaks volumes.
2. Lessons: My most important is that when you are relatively sure of the substance, stay the course. That has been the case with Qualcomm (although I have made some adjustments, but not to reduce to less than half throughout.)
On the other hand, with JDSU I held too long and should have followed the advice on Kings and held more lightly.
Otherwise I sold throughout the decline and went to cash.
About a year ago, (actually more like 18 months ago), I followed my earlier experience prior to the first gulf war, when it seemed likely, when I invested strongly and did well. This time I invested a major chunk of my non Qualcomm stake by switching both from cash and from some stocks I thought had poorer prospects to those I thought had better.
(See my prior message to you on this subject)
Note: Of course what you see in that prior message is a snapshot as of now.
Except for Qualcomm that will change, perhaps major changes as I put more from those I think have less potential to those who I think have more -- and I will put additional cash back in stocks.
BTW no way will I buy any bonds. I believe that Peter Lynch is correct that bonds are not the way to go, and that is the case in spades right now IMO with interest rates having no way to go but up over the next year or two and therefore bond principal down.
3. At my age and financial situation, no major exit strategy is appropriate. Some selling yes, but not major unless the economy or the world situation requires. As of now, I see one of the best potentials for the stocks of well chosen growth companies here and abroad (China, inter alia) in my lifetime. Of course I may be wrong. Have been before.
Thanks for doing this and best to the many familiar names which I have grown to think I know a bit over the years here and elsewhere on the SI and Fool boards.
Best
Cha2 |
