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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (19891)	6/4/1998 10:55:00 AM
From: Barry	Read Replies (1) \| Respond to of 70976

Brian, regarding ... Being out of the 10 top-performing days only, would have dropped the annualized return to 10.8%!!!!. 10 days in 10 years had quite an effect on overall returns; it completely wiped out fully a THIRD of the gains had one simply held through the period. just from experience and observation, usually the top performing days occur very closely to the worst performing days--either due to a bounce upward after falling rock bottom or from an irrational gain leading to a market top. I suspect if any of these academics would ever take out the 10 worst performing days along with the 10 top performing days, or at the least, take out the day before or day after each of these top 10 performing days, performance over the long term would result approximately the same as if they hadn't taken out these top isolated ten days. One should think about the returns over a ten year period from say 1972-1982 to keep this long term holding thing in perspective...or look at the Japanese market from 1989 to the present... or look at the return of the Korean market over the past ten years. It's not always pretty, even for long term investors. barry

To: Proud_Infidel who wrote (19891)	6/4/1998 10:56:00 AM
From: Gottfried	Read Replies (3) \| Respond to of 70976

Brian, you said > I think the message is clear: trading is hazardous to your financial well being.< I think there must be successful traders somewhere. In any case, I'm willing to let everyone choose their own approach. Trying to convert people is fruitless. Best quote I've seen in some time: "We don't see things as they are, we see things as we are" - ANAIS NIN Brian, please keep posting. We need a bull on this thread. <vbG> Gottfried