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Gold/Mining/Energy : PETD Petroleum Developmant-- Oil / Natural gas -- Ignore unavailable to you. Want to Upgrade?

To: Mark who wrote (665)	9/15/1999 10:25:00 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 688

Mark, Yes, I usually have a shortish time horizon for my investments. But like any general rule there are exceptions. The idea is to take fairly concentrated positions in a handful of companies at any given time. This is not sufficient diversification, so the way I get diversification is to change the companies I'm invested in. I generally form an investment thesis about some events that should occur over the next 1 - 6 months. If my thesis turns out to be wrong I bail. If management does something dumb that I wasn't anticipating I bail. If the stock gets overvalued I bail. If I see a better play somewhere else I bail. There has been some success with this approach but probably in the long haul it is not as successful as your strategy. But I could never just buy & hold O&G stocks. If somebody imposed that strategy on me I would throw up my hands and buy mutual funds. Mark, doubling your money in a year is a lot better than moderately well! Congrats on the great year you're having!