Steve, I very, very respectfully disagree!
I believe the buying decision is much more important than the selling decision. If you Buy Right, you will make money!
My favorite example is WMT. If you bought WMT on 12/31/92 at $32, it took you until 6/97 to even break even -- 4 1/2 years. In the meantime, the performance of WMT was exceptional. In fact, it was one of only 20% of the S&P that annually increased its EPS.
WMT did everything that could be expected of a company in this great land of ours. Yet, investors were in negative territory for a long time. So much for the efficient market theory.
Periodically, investors go bonkers on a stock. I look at the "internuts" and LU, and possibly even CSCO, that way at this time. It will take years for the future to catch up with present valuations. However, this view is probably my "accountant's" mentality curse.
BWDIK and all other disclaimers.
Berney
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