Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.07

-1.0%

3:59 PM EST

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To: Jon Koplik who wrote (12035)	7/4/1998 7:04:00 PM
From: Sawtooth	Read Replies (1) of 152472

<<The obvious GOOD QUESTION is : since even 16 years is a lot less than one's estimated life span, why can't people just be rational and endlessly hold on to stocks (I'm pretty sure I cannot) -- I do not have an answer.>> Good points, Jon. Here's my answer: Patience is a virtue because it's so darn hard to master well. It requires major discipline. It can be hard work. People like A-C-T-I-O-N. Many view their investments as entertainment more than a method of building wealth. They don't give a roasted road apple whether their stocks go up or down, as long as there's some action, some excitement. Nothing more boring than a portfolio or single stock that does nothing more than increase at a nice steady rate; people want the juice, the buzz. I know lots of people who are always searching for that "magic" stock. They have assembled great portfolios but are always swapping out an excellent holding for that new magic opportunity. They miss a lot of the big moves in their (just swapped out) holdings because they are always chasing the move that's "about to" happen. They have some nice hits but their overall performance is mediocre compared to the people I know who buy and hold great companies for years, and years, and more years. The true investors, the true buyers of a piece of the company just like you or I might buy into a local business, accumulate stunning wealth in many cases. But they don't get the buzz, the juice; and they don't give a sh!t because that's not their objective going into the deal. They don't care about the 10% day because they're getting 10 bagger decades. Now, if I could only have more patience! ; ) Regards.

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