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Excellently said.
There are major differences in approach between those with short time horizons and those with long ones. Most of what the short-term trader/investors post is irrelevant to me. I could care less if a stock is going up or down a few percent today or tomorrow or next week. And I have no interest at all in people who try to persuade me to buy or sell a stock on momentum, or rumor, or anything other than a close evaluation of its fundamentals.
TMF used to be a good resource. But I quit them when they went into the pay model because I didn't see they had enough advantages to make it worth the cost. I assume you're still there?
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Did some looking at Merck (MRK) this morning.
Has the market overreacted on this stock? It has some problems, particularly with a weak pipeline, but all the money has fled it to Pfizer and may have priced it into a good long term buy.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
I would want to be more careful with a definition if I were going to be quoted, but as a rough initial cut I would say that investing focuses on the qualities of a company -- with broad categories broken generally out into those who are more concerned with its income statement (growth investing) and those who are more concerned with its balance sheet (value investing), but always focussing on the company and its financial aspects, the business it is in, and the management quality. The investor is concerned with the stock price, but also pays serious attention to the financial statements and evaluations thereof.
Trading, IMO, isn't particularly concerned with the company, as long as it is going to remain solvent; it's concerned with the stock purely as a priced commodity. The trader is only minimally concerned with the company's financial statements beyond whether it is solvent.
That's simplistic, of course, and I don't want to get quoted on this yet, but I think it captures part of the essential difference.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
I've been aware of AIM for several years, have read the book, have their thread here bookmarket (as well as the one on SI). My problem with it as an investment philosophy is that it's really a trading philsophy. It doesn't care what the quality of the company is (as long as it isn't going bankrupt), and it prefers volatility to stability. A stock that goes up in price one prcent every day consistently for ten years is a fantastic investment, but is basically useless for AIM purposes. I'm not saying it doesn't have value; I think it may well. But it is NOT an investment strategy.
I'm not as familiar with X DEV, though I browsed the thread a while back, but it appears to me also to be a trading philsophy.
I'm not putting down trading; some people can make good money at it. But those aren't investors in the Buffet style, either, which is what Matt said he saw more of here.
And if there's a better place to take this discussion than this thread, let's take it there.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
I haven't noticed them.
PM me a few names I should check out when you get a few moments.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Matt and Bob --
Time to start a controversy.
I've been perusing the hot boards a bit recently, and believe this site is misnamed.
I think that in the interest of honesty and accuracy you should rename it either Traders Hub or Speculators Hub.
The number of true investors out of the active members is, uh, low low can you count? <g>
Anyhow, with truth in the financial world being the going issue after Enron and Arthur Andersen, you really should think about a name that more accurately reflects the realities of life here.
TTOOCN
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
But in my case there's no old fart in the mirror. What I see is a virile, handsome young man.
Course my eyes aren't all that good, either! LOL
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
It would be nice to have a chance to find out.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Probably my favorite getting old saying:
Inside every old person is a young person asking WHAT THE HELL HAPPENED???
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Hell, sounds like somebody else we know, eh?
Hell, I gave you a 50% return in 3 months on a solid company. Not my fault you didn't listen!
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Ah, you're close enough.
Welcome aboard.
But you're still a relative young'un, so you've got to post more than us to make up for your age deficiency!
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
oh, LOL.
One of the people who was hurt was a 70 year old woman.
Perhaps you will explain what's so funny about a 70 year old woman going to check he mail and being injured by an exploding pipe bomb.
I fail to see the humor in this.'
Please enlighten me.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Matt, it's time for Joe to take a long nap. Away from here.
He says nobody got hurt, I show him he's wrong, and what's his response?
oh, LOL
People who laugh at four mailmen and two residents getting hurt by pipe bombs is never going to be an asset to IH.
Time to pull the plug.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
He didn't hurt anyone
Like hell he didn't.
"Six people — four letter carriers and two residents — were wounded by
bombs left in mailboxes in Illinois and Iowa. "
http://story.news.yahoo.com/news?tmpl=story&ncid=514&e=3&cid=514&u=/ap/20020508/ap_o...
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
refusal to admit he
was wrong or could be wrong.
Oh, I can admit when I'm wrong.
See my last post.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Oh, I admit something.
I admit that I was grossly mistaken when I expressed the belief, months ago, that if Matt gave you a chance you could turn into a positive, contributing poster.
I was wrong.
Boy, was I wrong.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Not a chance.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
It was kinda fun watching the bombs appear
I take it back.
You're not all talk.
You're part sick.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
I really don't understand why everyone thinks I'm some younger kid who is all talk.
Maybe because that's what you are.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
That's a pretty good guess.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
That's the difference. You trade, I invest.
Like Buffett, my basic time horizon is forever. I will sell before then if a stock has already reached what I consider its target price AND doesn't have the potential to continue to grow at the rate I am looking for. But I never buy a stock expecting to turn it over quickly. In the past 10 years I don't think I've had a single short term capital gain, except from mutual funds.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
I think that depends on your investing strategy and time frame. I tend to be contrarian, not by intent but by the way I operate. That is, I don't go out planning to be contrarian. But my investment model usually has me buying when others are selling and selling when they're buying.
Going with the trend is what got people in trouble in the dot com craze. The Nifty Fifty. Etc.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Some see them as flukes. I see them as good stock picking.
I buy about one stock a month, on average. So out of the universe of about 9,000 stocks traded on the major exchanges, my goal is to find 12 each year that will increase their stock prices by at least 15% over the next five years. If I can find them, I achieve my goal. I want to do at least that well no matter what the maket does. If you call my stocks that go up when the market goes down flukes, that's fine with me. I'm happy.
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Many shall be restored that are now fallen, and many shall fall that are now in honor. Horace
Glad to help.
Now I've got to get back to work!
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.
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The cheaper the paper, the more important the information. Peter Lynch.