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To: HH who wrote (18517)	4/8/1998 9:31:00 PM
From: Thean	Respond to of 95453

Heyward, your use of Buffett as a buy and hold example does not support the market volatility thesis. First Buffett has made a lot of money but he is most visible and talked about in this decade because he bought and hold in the most prolific period of the powerful bull market we still enjoy today. Second the writers and media portray Buffett as a buy and hold guy because they keep talking about how he bought and held KO and MCD and companies like that. But those who have scrutinized his trades (a lot of money were made on buyouts, arbitrage situation, commodity trading, etc. that we don't hear about) have reported that he trades more than we think and know because he ain't telling what he does! If a bear market starts tomorrow, Buffett will most probably "buy and hold" his way to lose many millions of dollars till the end of the bear market. Unless he is really smart and take profit and put his money in CD!

To: HH who wrote (18517)	4/8/1998 11:15:00 PM
From: waverider	Respond to of 95453

>>So, some words ( not necessarily wisdom) to consider... I am not going to give up my day job.<< Ahh, err, I just did! At least the stable, monthly paycheck kind (within two months). But your point is well taken. This choppy market has been good for the trader...until...? And that is my point about the long term strategy. As you said, one day things will reverse dramatically and someone is going to be without a chair. The ONLY think I know that will work over the long haul is to buy good corporations and hang on to them until something changes (fundamentally, cycle ending, etc.).