Jules,
Every once in a while it is refreshing to read the philosophy of
one who truly has a great appreciation for the basic fundamentals of
accumulating wealth. I have been a long term investor of intel and
it did not take much analysis to realize that Intel is one of the
greatest companies on the planet. I too feel that of Microsoft and also Cisco Systems.
A couple of years ago when the majority of financial Wizards were saying not to buy semiconductor stocks especially intel, I was wandering what brand of beer they were drinking? I bought a good deal of Intel at $47 and rode it through the bumps,as I did also with Microsoft. I believe as you do, that long term investing is the solution to accumulating wealth. One has to simply buy the so called big guns in any industry and hold it for the long term, possibly even a lifetime.
I do not have a tremendous measure of formal education, or credentials, but I have been blessed with another measure of wealth, :that is, common sense. I do not believe that over the long term people who profess to be so clever playing all the sophisticated games availabe such as option and calls and margin really in the end have anything to boast about even though they may like us to believe they have. Sooner or later the gambling bug will take its toll and nobody who gambles is immuned to the consequences.
Are you familiar with the Life Of Ann Schieber and how she acculumated her millions? It was one of the most incredible but easy to follow stories I have ever heard. She did not have the education and technical background as you have but she shared with you the belief of long term investing. She believed in only buying the household names. Hold for the long term and never sell. She had only a very modest income but with little over $5000.00(five thousand),she lived long enough to see it grow into more than $20,000,000.00
( twenty Million Dollars)
I have make the solemn vow that if I have enough time in my life, I will do the same. Patience+commitment+time = wealth. Thank you for your posting and good fortune to you.
Best Wishes,
Frank Morris |
