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

To: Joshua Corbin who wrote (35418)	11/27/2000 5:25:42 PM
From: Mike Buckley	Read Replies (2) \| Respond to of 54805

boring old farts I resent that this is being repeatedly brought up. I am NOT old. --Mike Buckley

To: Joshua Corbin who wrote (35418)	11/27/2000 5:49:36 PM
From: John Stichnoth	Respond to of 54805

Joshua, I think your test is interesting, but it cannot be definitive of anything significant here. Are you really suggesting that an individual cannot beat the market? Peter Lynch of course would disagree (see One Up on Wall Street). So would Geoffrey Moore. Professional managers are so hemmed in by legal and practical constraints that they cannot optimize their portfolios' performance. (One of those constraints is that they are so often trying to run more than one portfolio at a time. Another is the diversification rules imposed in maintaining their portfolios. Another is the effect on a stock's price if they decide to exit it. Etc.) An individual taking a professional approach to his or her investing does not have those same constraints. The market is NOT efficient. We have seen that with the big runups of individual stocks (QCOM, NTAP). And more recently with big declines (ELON, CTXS). It takes some time for events to be reflected in a stock price. Those who are familiar with and focused on a limited number of stocks can better react to important events effecting those stocks.