To: S.A. Smith who wrote (3657 ) 1/10/1999 6:06:00 PM From: SJS Respond to of 19700
SA, I've enjoyed reading your post. I think I am finding that there are at least two camps of people, those like yourself, islander and many other, and then those more trading oriented, like myself. I was saying earlier that I feel that way about QWST which I got at the IPO price of split-adjusted 11, and don't want to sell it. But a funny story here is that after the IPO, I sold some of my shares within a month because I had reached a 30% profit return. I let the rest ride, and added some more during 1998. While I watch it, I don't seem for this stock to have such an "itchy" finger to sell it.... The common theme with you guys is that you are NOT selling UNLESS the business story changes. Time and time again, this is the mantra of the LT investor. I admire that you can do that in the face of staggering paper profits. Maybe it's that huge profit that keeps you insulated. I think I would like to become more like you guys, but I've got to temper my desire to pull the trigger on selling something after I set exit targets. I can however, spend the rest of my days being a trader and established very few LT positions. I won't do as well as you guys over the very long term, but it is intriguing to listen to you folks talk about your strategy in this regard. One more thought: MANY MANY people talked like this before our "mini-summer crash" and then got scared for their profits... Then then threw out that philosphy as FEAR took over, and sold their positions. I wonder how a true bear market would temper that thinking...just another thought exercise. Let's hope CMGI keeps going and levels off with their ascent... Regards and nice pick a few years ago!!