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

To: Apollo who wrote (49195)	11/28/2001 11:24:52 AM
From: carranza2	Respond to of 54805

Extremely good question/issue: "how do you define LTBH?" I think reference to Warren Buffett is appropriate at this point. The single most astute comment he has made concerning market psychology, in my opinion, is that most investors mistakenly use a rear view mirror in evaluating investments despite the fact that earnings, profits, etc., generally go on a slow upwards trend. A LTB&H investor accumulates while the prevalent psychology is that things are lousy and getting worse by the day. He sells when the prevalent psychology is that things are great, stocks are underpriced, etc. In other words, when a bubble is inflating. His views on these points are set forth here: fortune.com For all it's worth, I think a LTB&H investor is one who rides out at least one of the cycles which Buffett describes. As he notes, each of the cycles can last a long time. I was this kind of investor with respect to previous holdings of INTC, MSFT, and CSCO. Made a pile of money which I promptly invested in Q, which I should have sold during the 1999 bubble year. Now waiting for the other end of the cycle to come back. Will sell next time.

To: Apollo who wrote (49195)	11/28/2001 3:32:44 PM
From: tekboy	Read Replies (1) \| Respond to of 54805

how did you feel when talking with him? I mean, from your description he's basically a professional in this area, and you're a smart amateur. Listening to him, and reflecting on what he was saying, did you come away thinking, "I shouldn't even be trying this," or "hey, I can do this!" or "well, if I don't publish much and give all my patients aspirin and use the time freed up to concentrate on fundamental and economic analysis, maybe then it would be sensible to do this"? tekboy@inquiringmindswanttoknow.com