For the first seven years I contributed
to an IRA account and owned mutual funds.
Once a year or so I would move to whatever
the next hot sector was supposed to be--
real estate, small cap, energy. I managed
to stay out of phase with what would have
paid, and finally moved the account to
a brokerage account and traded stocks.
The result was, over seven years up til
until 1998, all I managed to get was a
2.7% return on average each year!
Last year trading, mainly just last spring,
I got the account to go from 17 to 71k, which
went to my head I guess, because I was able
to halve that by October.
Anyway, I recovered to around 50k and decided
to settle down...in what has turned out to be
the most unloved sector of the market--smallcap
biotech. In time I think I'll be okay, quite a bit
of that so-called "due diligence" on my part seems
to be uncoving plenty of value, but in the meantime,
while I wait--
Kick Me! |
