Friday, June 10, 2011

06/10/11



Well, I headed for Las Vegas
Only made it out to Needles
Can you feel it
must be real it feels so good

I can understand the short-term psychology here. However, a buy-and-hold mentality resides in a different dimension. The two strategies can be compared to (a) a company focused on quarterly profits, versus (b) one focused on LT success. A 5-week sell-off is but a beat in a 5-year chart.

There is no timing with buy-and-hold. Setbacks are inevitable in any long-term journey. If a man sets out on a LT journey unable to handle adversity, he'll end up in Needles.
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10 comments:

  1. 2nd_aveJune 10, 2011 at 6:01 PM

    Or Bullhead.

    ReplyDelete
  2. 2nd_aveJune 10, 2011 at 6:05 PM

    Look, there aren't many people touting buy-and-hold right now. There are a ----load of them selling timing strategies.

    That in and of itself lends credence to a wider perspective: that market timing points toward buy-and-hold as a timing strategy.

    ReplyDelete
  3. 2nd_aveJune 10, 2011 at 6:17 PM

    I pretty much moved into buy-and-hold at the beginning of a 5-week slide. That's fine. That's life.

    There are kids who graduate at the beginning of a recession.

    Football recruits who injure their knees in training camp.

    Football teams who start the season 0-5. Or the second half of a game down 24 points.

    Politicians who ---- up their first major public speech.

    ReplyDelete
  4. illiniJune 10, 2011 at 6:22 PM

    "How the hell to (sic) you play it?"

    Mark, if you refer to the Google Doodle rather than MITK, just strum and pick. You have to have Google "Instant" off to avoid going to search when you type in letters and I have not figured that out. Just pick and grin.

    ReplyDelete
  5. MarkWJune 10, 2011 at 6:32 PM

    Illini- OK, I'll just pick and grin.

    2nd- My mother spent a few years growing up in Needles. That was balanced out by later years in Santa Barbara.

    ReplyDelete
  6. RoBearJune 10, 2011 at 6:34 PM

    I hate Needles. They were our arch rivals! Me and their star forward got into a melee just because he tried to jump clear over me and somehow he landed on his head instead of getting a dunk. Really poor sportsmanship on their part! We did get a police escort the 30 miles back to Bullhead. My mom was so embarrassed, not because of the fight, but from the humungous hickeys Yvonne Morrison left on my neck. Visible to all in the entire gym. Yes,I know what you were thinking, I was wearing a pair of Gold with Green stripes,butthugging, Larry Bird short shorts. Wish, I had a pair now. It would be cool to wear them to the soccer games. My kids would love it.

    ReplyDelete
  7. MarkWJune 10, 2011 at 6:48 PM

    RB- Our leader...

    http://www.telegraph.co.uk/news/picturegalleries/howaboutthat/8559331/Father-waves-at-his-sons-school-bus-wearing-a-different-costume-every-day.html

    ReplyDelete
  8. RoBearJune 11, 2011 at 12:49 AM

    Guddy Buy rules. Unbelievable he is 74 years old and played a show very similar to his Jheri Curl days in the 80s when i lived in Chicago. A real inspiration. I hope I am that active at that age.
    https://www.morrisonhotelgallery.com/photo/default.aspx?photographID=1211

    ReplyDelete
  9. BB CanadaJune 11, 2011 at 5:27 AM

    You've probably seen this now that you've converted to the buy and hold side, but good to know Buffett is on your side:

    Warren Buffett makes 4 market calls.
    Buffett rarely makes general market calls, but here are his four market calls that have been responsible for a good portion of his growth in net worth. Forbes 11/01/74 (buy), Forbes 08/06/79 (buy), Fortune 11/22/99 (sell) and The New York Times 10/16/08 (buy).

    http://www.slideshare.net/hblodget/warren-buffett-makes-4-market-calls-presentation

    Buffett's also said that most people would do well to buy broad-based funds which cover the market (eg. SPY)

    ReplyDelete
  10. 2nd_aveJune 11, 2011 at 5:32 AM

    new post

    ReplyDelete

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