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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Mike Buckley who wrote (22877)	4/17/2000 8:40:00 AM
From: Tom Trader	Read Replies (3) \| Respond to of 54805

Mike, I stated: However, absent a fairly quick recovery, the ltb&h people will have their mettle tested. You responded: Our mettle is tested when our stocks are at highs, not when they are at lows Mike, when things are going well it is human nature to stay with the program whether it is gorilla gaming or some other long term strategy. The acid test comes when things are not going well. An investor goes through a certain evolution with various emotional ups and downs; with a view to keeping this post to a reasonable length, I am posting this evolutionary process as a separate post. Message 13442889 Now is that the way that the ltb&h investor should behave -- of course not! But human behavior rarely changes. Will the ltb&h folks on this thread sell at the bottom -- I have no idea. If we have a bear market that lasts 18 months or so, will the mettle of the ltb&h be tested -- I believe that it will. Having read GM's book on gg a couple of times, I am satisfied and impressed with the conceptual soundness of what he states. For me, it is a sound strategy for selecting excellent companies to own for the long haul. What neither the book nor this thread addresses for the most part are money management concepts for the investor who decides to pursue the gg as an investing strategy. I don't fault the book for that -- I don't think that was within the purview of what was the book was about. The only reason that I post to this thread is because I have gotten a lot out of it and feel a need to contribute something in return. My expertise is not in the technology arena -- and there are others who do a great job as far as clarifying the gg concepts. A few weeks ago one of the thread "elders", with whom I was sharing some thoughts on money management through pms' urged me to post some of these thoughts on the thread. I told him that the first time that I posted to the thread about portfolio protection -- when the market looked like it was going up forever -- it did not seem that it was a subject that was of interest to the thread. He said that perhaps it was because I was new to the thread. Someone else who does not post to the thread -- but has me book-marked and knows something of my background -- said that I should be more direct about what I wanted to say and not do this very polite, kinder, gentler approach:) I suspect that you, UF and some of the others on this thread probably have come to the conclusion -- especially given my "handle" on SI and the absence of any information on my profile -- that I am not a ltb&h type. Nothing could be further from the truth -- I suspect that the period of holding of some of the stocks that I own probably exceeds that of most contributors on this thread. However, as important as proper stock selection, is money management -- and money management, IMO, means more than not using margin and avoiding short-term options.