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Sunday, December 07, 2008 6:27:36 PM
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33945120
I think this kind of thing works in an upward market well. You have to know enough to get out and sell high, then wait. I was watching a stock show on TV up here in Canada and there was a guy on who called himself a "contrarian investor". This kind of investor buys beaten stocks really low. Does not buy and hold. Is extremely picky about what stocks he buys (only buying 2% of what he looks at). Does not diversify for the sake of diversification, which I think is rampant. I realized in watching it, that he was closest to my philosophy on things. Did really well from 2002-2004.
In this market... you may as well wait it out, but watch for opportunities. Frankly, not many stocks fit my criteria and I think it will be volatile like this for another year.
I think we have another opportunity to repeat this success over the next several years as the market recovers. Best thing to do is to exchange picks and help each other.
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