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

To: tekboy who wrote (26485)	6/19/2000 12:33:00 AM
From: Uncle Frank	Read Replies (1) \| Respond to of 54805

>> By and large, they feel that I got lucky in catching a particular market "wave," confused brains with a bull market, and suffered because I held on when the "obvious bubble" burst. There's always the possibility they might be right... but I don't think so. Your friends, the professionals, are primarily traders. They have reason for finding long term buy and hold strategies offensive. uf

To: tekboy who wrote (26485)	6/19/2000 12:09:00 PM
From: mmbw	Respond to of 54805

Your experience with the fund managers reminds me of an article I read last year (can't remember source). Several fund managers were interviewed and they were very smug. They basically said that individual investors were not very smart if they tried to pick their own stocks. They implied that such people simply hadn't the intelligence to trade properly. They also implied that the public simply didn't receive information quickly enough. Gee what a surprise since many companies still tell analysts ahead of time about company info. As I review my own success in the last year and a half those interviews come to mind every time. It annoys me that they can be so arrogant and think we are fools. The fools IMO are the ones that listen to them seriously. On a positive note last month I had dinner at a restaurant where we happened to share a table with a market maker on the Pacific Exchange. Once he found out my interest in stocks we talked through the entire dinner about the tech area. He was very encouraging to me and felt I was on the right track in my stock selections. And he wasn't out to get my business. It confirmed for me that this thread is a valuable source for the information I am seeking to make sound investments.

To: tekboy who wrote (26485)	6/19/2000 1:28:00 PM
From: areokat	Read Replies (1) \| Respond to of 54805

>>I mean, folks here understand, I hope, that the rest of the world thinks that we're just like the "Wavoids," right? Of course I don't think so, but that's just proof that I'm a member in good standing of the cult...<< Very good post, tb. I think that what we've just gone through will shake a lot of folks out and our little group will shrink a bit. The phenomenon being akin to LTB&H as opposed to short term trading or even deferred gratification vs immediate gratification. Tom

To: tekboy who wrote (26485)	6/20/2000 10:06:00 AM
From: Mike Buckley	Respond to of 54805

tekboy, The combination of shock, discomfort, amusement, and condescension was about what I would have received if I had asked them to hold hands and kneel in the aisle while I baptized them with the Bud man as witness.... ROTFLMAO!!!!!!!!!!!!!!!!!!!!! Someone asked the other day what my "professional" investing biz buddies were saying to me now that our favorites had tanked so severely. Show them the returns on any portfolio held three or more years. That sort of question makes sense only to the person who thinks today's price should explain a price of three months ago. Uncle Sam's tax man loves people who think that way. By and large, they feel that I got lucky in catching a particular market "wave," On a short-term basis, you did. The Naz went up 85% in 1999. That's luck, not skill or knowledge. The recent Qualcomm stories and drop have confirmed all of that for them, and my insistence that nothing is fundamentally wrong is seen as proof that I "fell in love" with my picks and don't have the objectivity to recognize what was (and is) going on. Any time a stock drops it sets up the opportunity for someone to say you fell in love with a stock. Recite the five times Siebel has fallen 30% to 50% in the last 2 1/2 years, and remind them that it is only notches away from an all-time high. --Mike Buckley