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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Lhn5 who wrote (45534)	11/15/2005 11:19:35 AM
From: ahhaha	Read Replies (2) \| Respond to of 110194

The trick is to change your investing style and decision-making as the era changes. Extraordinarily difficult...but not impossible. Or at least stay out of the markets and stay conservative until the next era that fits your investment style comes around. Easy to say, hard to practice. We can't change who we are or how we approach investment especially not as we get older. Practicing the above style one should have sold out of the stock market in Oct '97 and staid out ever since. I would agree that it is most often luck that allows an investor to do extremely well, but at least in theory you must admit that a select few may do well over an extended period of time by being 'smart'. Smart = well informed by good whisper circuits. Did you read the 'Fooled by Randomness' book? Did you write it? No. Randomness is decidedly there. You have to get into things whose wealth growth yields a trend that transcends the fluctuations. Traders don't do this. One has to hold through the cumulative fluctuations that would yield a loss, as long as the fundamental basis for the investment continues. This is very hard to do.