Peter, I am no genius, and I don't have one picking stocks for me, either. You read much more into my statement than was written. Higher higher, and higher lows. If the company you pick stops this trend, its probably time to move on. Especially one with an inflated price. That's all. So why does it have to be a rear view strategy?
Did I pick WMT in the 70's? No. Did I pick MSFT in the 80's? No. (even, though I was very much in tune with this company virtually from their inception. I very well remember the day they went public. They were overpriced then. Overvalued? Obviously not.)
I did however pick MSFT and DELL in the mid 90's. They have basically both held true to the simpleton investing idea stated above.
DELL is obviously testing my resolve once again. But if DELL history is any indicator, today is just another buying opportunity. I know that is very difficult to accept. Hell, I find it hard to believe myself. But, every time I've wanted to sell, has been WRONG.
Will the stock crash to 22 as Michael Burke thinks? Not likely. Probably not possible.
AFA your gloomy market views, suffice it to say, I don't agree. I do respect these views though. I just don't see any 14 year bear markets out there. Sorry...
Gary |
