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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: pfierb who wrote (20858)	6/8/1999 7:30:00 AM
From: Craig A	Read Replies (1) \| Respond to of 41369

From Bull Market Report this AM. A broken record for sure but some of us need to read this often. From very successful source! '....But the most powerful thing we have done is NOT to sell these stocks as they have gone higher and higher and higher. AOL is a good example. Back in March the stock was in the 90's and looked VERY high at that time. It had risen from the 20's in October and many folks had made a lot of money in the stock. It would have been very easy for us to say SELL your stock and take your profits, but we didn't. Why not? Because we are long term investors and believe that this gorilla is going to be one of the most profitable companies in the world some day. Then the stock goes to $175 and retreats to the $105 level. If we had sold in the 90's we would have missed out on another 25% increase in the stock to the $115 level today. We are not day-traders and market-timers. We just don't think this can be done by the common investor, day-in and day-out. So we stay with stocks we believe in. We are staying in AOL for the duration, UNTIL something fundamental comes along to displace it. We don't see that yet and we remain long the stock. But we are certainly not upset by not having sold at $175 two months ago. One other thing. In our experience market-timers are generally wrong. There are some that are right sometimes, just like a stopped clock is right twice a day. We have found that when you try to time the markets you end up being out of the market when it has the biggest gains.' Good luck to all today. I very much enjoy the exchange here.