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Pastimes : Rules We Can Learn From -- Ignore unavailable to you. Want to Upgrade?

To: Ms. X who wrote (18)	4/25/1998 9:08:00 PM
From: Scott H. Davis	Respond to of 109

Refinment on post about only picking up stocks you would want to own a long time. If you "have a day job" and thus less time you can devote to investing, stick mostly to stocks in industries you actually know something about. I got overconfidant after some initial small cap success, and started picking up development stage microcaps with technologies that sounded great, but I know little about. Makes it a lot harder to spot scams or companies that don't know where their own industry is heading AND abble to assiliate now. I'm a long term clinical systems analyst. I'm way ahead in computer networking and doing fairly with biotechs and lab diagnostics. I've lost it all back in other industries. I guess a very good TA based trader may not need to do a lot of DD on the business case of a company, but for those that arn't, it really helps. Case in point, I stayed away from SOCR when I realized their core products were all UNIX based, despite a good growth rate and a good balance sheet. I stuck with EQNX based on both the great value characteristics and how their products were positioned and developing. Hope this helps Scott