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To: shane forbes who wrote (9448)	2/4/1998 3:00:00 PM
From: sea_biscuit	Read Replies (2) \| Respond to of 25814

Shane : Thanks for the insight. Yes, I was assuming long-term holding in my assessment and in my comment. IMO, even if one does make any gains by following an investment strategy based on earnings/price momentum, the gains usually get frittered away in the form of higher taxes, commissions, newsletter subscriptions etc. etc. No wonder that the Forbes 400 list has quite a few long-term investors but no traders! Speaking for myself, I find momentum-based investing particularly difficult because in my case, a 50% gain will not make me happy to the same extent as a 50% loss can make me sad. So, momentum investing is just not my cup of tea. I suspect it is the same with most people, but they generally deny it and discover it for themselves over a few years' time... Dipy.