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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (18906)	3/19/2004 12:36:19 PM
From: MCsweet	Read Replies (1) \| Respond to of 78496

Jurgis, Your point is well taken, but perhaps you take the statement somewhat too literally in the context of your strategy, particularly since I didn't say sell all of your position but consider selling some of your position. However, even with your strategy you could hold a core position and then trade in and out of a portion of your position based on the stock's relative richness or cheapness. I do this on occasion, and it seems to lower the risk of my portfolio. In addition, I personally don't have the aptitude or foresight to estimate the expected annual return of a stock except in very special liquidation situations. I more have a feel for whether a stock is rich or cheap relative to the market, and hence my suggestion makes more for those kind of investors. If you are precise enough to estimate annual returns for your stocks, you probably don't need a buy/sell signal such as this one. MC