To: Jock Hutchinson who wrote (17750 ) 4/6/1999 8:36:00 PM From: sea_biscuit Read Replies (1) | Respond to
You truly need to learn that being an outstanding long-term investor requires a person to be able to sit through the poor years in order to benefit from the great years, such as this one, [...] have sat through the poor years -- 96, 97 and (ouch!) 98. During those times, I sold into the rallies only to reduce my average cost per share. That was a defensive gesture that helped me sleep a lot better than some of the rest of us here! <G>on cost 20 years from now, if the company can double its dividend every 5 years. Again, of the 350 that I mentioned above, there are many that have done precisely that and many of them are quite likely to do so in the future. Now, that is long-term investing! of my investment as about the return on my investment. You can see that in my "sell 60% when the stock doubles" approach -- something that I always advocate in the case of companies with highly erratic earnings, e.g. LSI :-) [...]when it is very likely that LSI will triple in price year over year. stock market!) but if it does triple, I will be selling all along the way, without any regrets whatsoever.
