Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (114570)	10/4/2000 1:02:08 AM
From: Susan G	Read Replies (1) \| Respond to of 120523

Debunking the 'Long-Term' Blather By James J. Cramer Originally posted at 4:35 PM ET 10/2/00 on RealMoney.com If you buy stocks and forget about them, you will do fine. High-quality stocks will always be in fashion. You should buy and hold and forget about stocks. In fact, stocks will be up no matter what because, long-term, all stocks go up, but especially the good ones. I would especially take advantage of the weaker good stocks to buy them here because, how can you lose? Stocks are always good buys longer-term. Same with mutual funds. There. There it is. That's what many people want to hear. They want to hear that long-term stuff so bad they can taste it. The gurus hide behind long-term rhetoric. The bulls hide behind long-term rhetoric. The public hides behind long-term rhetoric. This is the card from which the producers of most TV programs want you to read. This is the card they give you at most brokerage stocks and most mutual-fund houses. It is appalling. I am revolted by this. Just revolted. The glib assertion that somehow it all works out in the end is something that belongs in Hollywood, not on Wall Street. Last week, in San Francisco, I went over patterns that I found in thousands of tops. These were tops that were not scaled again. They were tops that we look at from the rear-view window and which look very, very small now, but were very high some time ago. Much of the brokerage and mutual-fund industries are set up under this thesis. It is terrific for them because those who push it are completely unaccountable. Six months from now, if the stocks aren't up, then we should wait another six months. If that comes and goes, we should wait another year or two. And why not? In the end, they all finish up, so why ever sell? As this torturous market continues, you will hear more and more professionals blather about the long term. They will wrap themselves in the flag of the long term and, if you criticize them, they will act as if you are gunning for Ma and apple pie. Long-term, here is what happens, in my opinion: If the companies do well and the managements do well and the game plans get executed and the stocks aren't too rich, they will go higher. There will be stocks worth buying and stocks worth selling. Right now, there are more of the latter than of the former. For the long term. FOR THE LONG TERM (I write in caps, just in case you missed it the first time). That's about the only guarantee. If something doesn't work out in that troika, you could get pancaked. That's the landscape, short or long or intermediate or forever or yesterday. Do not accept anything else as gospel. There is none.