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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (3374)	10/4/1998 6:08:00 PM
From: Bill Wexler	Respond to of 4634

<<I'm just looking at timing things a little better.>> You can't. No one can. All I know is that its foolish to pay 100x earnings for a stock growing at 5% a year. That doesn't mean it can't go to 200x earnings before it collapses. The cornerstone of a good investment strategy (both long and short) is the management of risk i.e., don't gamble on tops or bottoms by overextending yourself on margin or using options as leverage, and don't play the momentum game. This is exactly why, for example, the foul-mouthed "TokyoMex" and his merry band consistently lose money.