MV Oil Trust (MVO)

[Investorman]

I have no idea what most other people do when it comes to buying or selling stocks. The market goes up and down but I don't try to gamble on timing the market. It is a fools game for ordinary investors. Heck, I even still own 1 stock that I bought in the late 1970's.

I evaluate each company individually based on what I think their prospects are and normally expect to hold it for decades unless there is something about the base business or management that changes my mind. It has worked for me for the last 40 years so I see no reason to change at this point.

MVO is my idea of a short term hold and I will probably get out of it around 2015 depending on what is going on at that time. I might bail sooner or hold an extra year based on where I think oil prices are going. I have some expert help in this area from a couple of friends who have been in the oil business in Texas for the last 50 years.

It is always a bit of a gamble when trying to predict the future but that is what makes it fun. Looking at the ups and downs of the past is of no use other than to keep one grounded in the possibilities of what might happen in the future. If you buy good companies, the short term ups and downs will have little effect on a long term investing strategy.