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

To: Cary Salsberg who wrote (14464)	4/16/2005 10:08:55 AM
From: Sam Citron	Respond to of 25522

Cary, Stock picking and portfolio management are complementary disciplines. I do not think that investors can afford to ignore one or the other. It's more than just choosing 2 from Column A and 2 from Column B. We tend to pick stocks, but wind up with portfolios. If we don't think hard about the overall portfolio, it may not be optimal to suit our needs. In my case, I avoided the bond market in my youth mainly because I thought it was boring compared to equities. Even more than missing out on a fabulous bull market there over the last two decades, I regret that I missed a learning curve there. Now that I am 52 and have certain fiduciary commitments to children, family and my own retirement, I wish I knew more about fixed income strategies. On a more personal level, Cary, I'd like to point out that you have never disappointed me. On the contrary, I have learned more about investing from you than anyone, including Robert Sobel, who taught me security analysis in NY, and numerous teachers in my CFA Level 1 classes in Boston. To the extent I may have once hoped to see you go bounding from semiequips to steel companies, for example, I can now see that in spite of interesting recent consolidation trends in the steel industry, profit margins and longterm growth rates there would probably not excite you, and you are best if you are true to your discipline. Like certain tigers and sharks, it is not just any blood that interests you. What you may have lacked in bandwidth, you more than compensated for in banddepth. Getting back to the topic of effective collaboration, I think it might be worthwhile if people here were to identify specific areas of investing they might be particularly interested in learning about, if AMAT and its doings are not sufficiently interesting at present to keep them entertained or satisfied. For myself, I am most interested in learning more about defensive sectors of the market such as food, beverage and health care industries, asset allocation, emerging markets, and fixed income. Sam