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To: Challo Jeregy who wrote (5153)11/6/1998 12:36:00 PM
From: Thean  Read Replies (3) | Respond to of 14427
 
All, the ongoing discussion has been interesting. Let me throw in one element that Challo brought up - time.

Time is the dimension we don't see because we can't readily measure it. For example, if one wears no watch and see no clock, one would not be able to tell time accurately. We see 3-D space. We see profit gain and loss. We see fundamentals and we see sentiments and TA. But we don't usually see the decay of capital over time. Hoding cash is fine if money market interest beats inflation. Holding stocks for long term is good but only as long as they perform in the desired direction. The saying "fundamentals always win at the end" is not stupid but it really helps nothing if "when" is not defined. If that time is 5 years, will winning at the end really matter anymore?

I see the problem out of this quandry is to respect time more. Surrender to time that one is mortal. If one removes this very difficult to quantify element out of the equation, one can then count on other more readily controlled factors (such as discipline, skill and knowledge) to formulate a winning equation.