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Pastimes : G&K Investing for Curmudgeons -- Ignore unavailable to you. Want to Upgrade?

To: Mike Buckley who wrote (4420)	7/31/2000 4:25:57 PM
From: Apollo	Read Replies (1) \| Respond to of 22706

Mikey: ...the greatest gains in the market have always come not from short-term trading (no matter how extreme the volatility) but from long-term buying and holding. The Walmart "story" was "known" for decades and still provided investors with obscene returns; the Cisco and Intel "stories" have been cliches for years and yet their investors have done extraordinarily well by sitting tight and doing nothing. As Peter Lynch, Warren Buffett, and many many others have pointed out, the really big bucks come from partaking of the compounded returns produced by great businesses over long periods of time. Those returns come not from the moonshots of previously unknown momentum darlings, which can rarely be predicted and require active trading with attendant commission costs and (especially) taxes incurred, but rather precisely from becoming silent partners in companies whose "story" is "known" by almost everybody, and who can operate over a broad enough area and long enough timeframe to increase their revenues and earnings dependably. I consider this sage advice, and consistent with your oft-times previously expressed views. What I don't understand is this: why did you change your moniker to "Tekboy"? ca Message 14138264