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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (14396)	4/15/2005 10:50:54 PM
From: Cary Salsberg	Read Replies (1) \| Respond to of 25522

RE: "There is blood somewhere on the street every single day." I am sorry about my lack of "versatility or bandwidth". I have followed the market for about 50 years. My father got up the courage to invest in the market in 1955. The crash and the depression were not easy for him to overcome. I believe that investing has two fundamental strategies, one is portfolio management and the other stock picking. Portfolio management allows for more versatility and bandwidth. A general understanding, a set of screening criteria, diversification, and careful review of criteria and results with substitution does the trick. Portfolio management depends on a favorable probabilistic outcome. Stock picking is more deterministic. General understanding and good rules are not sufficient. They are necessary, but so is an understanding more profound than "general". My personality favors deterministic over probabilistic, concentration over diversification, a deeper knowledge over a set of good rules. So, once again, I claim to disappoint you because of our personality differences, not inability or disdain for other investment strategies.