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Technology Stocks : Zitel-ZITL What's Happening
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To: Autumn Henry who wrote (2259)12/29/1996 8:04:00 PM
From: Lyle Abramowitz   of 18263
 
Autumn,

Thanks for the reply. I'll try to be brief as I need to get out to the grocery.

Thanks for the book recommendations. Let me suggest one for you, if you've haven't read it--Peter Lynch's "One Up On Wall Street". He is definitely of the buy and hold/long term school. This line of thought is also accompanied by a belief in company fundamentals as a relaible predictor of equity performance. I have read a few books oriented toward trading--but I haven't really found the techniques all that workable for myself. This isn't to say that I'd not like to trade or find anything wrong with doing so. Clearly, it is to one's benefit to have many investment techniques available for different situations.

As to the issue of responsibility, I guess I understand your position better from your last post. Certainly, if one is trading securities for a livlihood then it is important to produce a steady predictable income stream. This does constrain the types of investments that can be made--somewhat analogous to the constraints the institutional managers face.

I have a day job and do not depend on short term results. I have found that in a 3 year time frame I have realized large gains in my winning stocks. This has been consistent with Lynch's claims about finding "10-baggers".

ZITL certainly has been one loco stock. I may or may not have screwed the pooch; only time will tell that for sure. I did forget one basic principle--to distiguish between (what I suppose to be) reality and the perceptions of others. Any opinions as to what ZITL may do are welcome by me.

Speaking of "10-baggers", I need to get to the store!

Regards,
Lyle
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