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Technology Stocks : Western Digital (WDC)
WDC 168.90+4.9%Dec 5 9:30 AM EST
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To: Flamethrower who wrote (7504)11/12/1997 3:39:00 PM
From: Thomas George Warner  Read Replies (1) of 11057
 
You missed the point. many investors have no idea why they are investing in a company, no fundamental analysis etc. . Some follow the trend of momentum investing and never know when to get in or out.

I believe in long term investing although I frequently day trade specific stocks when the opportunity presents itself, but I follow a couple of rules that I believe insulates me from really disasterous results.

1. Never invest 100% in the market, except for very short periods of strong bull markets

2. When you buy a fundamentally strong company, do not sell at the slightest downturn (a free fall from 49 to 21 is not a downturn, more like a free fall).

3. Have large amounts of cash on hand to bail yourself out of stupid mistakes (isn't this a bright statement!).

I bought into WDC at 49, 47 and 24 and will continue to buy if it goes lower (all of the professional money managers tell me this is wrong).

I was entirely out of the market and 100% cash just before buying WDC and APM. They passed all of the tests----what went wrong? An imperfect world, with imperfect companies managed by imperfect people, whose stock is bought and sold by imperfect investors with the prefect idea of making a killing in the market.

All of the above having been said I believe that the only thing to do when a fundamentally strong company freefalls is to hold on, if TIME IS NOT A FACTOR. " No one gets hurt on the roller coaster unless they jump off".

Another thing my ideas are probably different than many others since I can not touch the money I have invested for 2 1/2 more years. It is in a retirement account.

Good investing and may you all make the right choices and retire rich.
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