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Dear Ira,
I have obviously failed to articulate my approach in a way that can be
understood by those who suffer from myopic deliberation.
If a person (investor/trader/speculator/venture capitalist) is going to
venture into financial battle with the intent of adding to wealth
against opponents who have the same goal, shouldn't the person be
prepared? If I have read and interpreted your post, you are only using
a screening tool with set parameters of your choosing. You state that
you do not have the time to research, read news, etc. What in the world
do you think the truly large players are relying upon, a ougi board?
By following twenty or so stocks, I can manage my time in order to do
the continual research and review process to monitor each equity. With
time, this has allowed me to understand and anticipate the price
reaction to market movement and news. I am not aware of any better way
to prepare for this type of battle. Instead of some of the goofy guru
books that have been recommended, I strongly suggest that you spend some
time with Sun Tzu. His thoughts are the basis of strategy to this day.
You are the same person that asked me whether I had shorted BAMM. Now,
back in December, AMZN and all of the other new internet darlings were
running out of control. Would it really have made sense to short BAMM?
You also made the comment that my approach did not account for short
selling. Of course, that's the point. I can only keep a reasonable
perspective on twenty stocks. Clearly, they are value plays. Short
selling does not fit in my approach. You also said that you had serious
doubts that my approach could not pay for the monthly bills. Ira, I do
not rely on investments for income. My goal is the accumulation of
wealth. I work a sixteen hour day and divide my attention accordingly.
Do not assume that my approach does not work. It allows the selection
of several equities on a daily basis backed up by personal knowledge of
trade action. On a daily basis, those opportunities can be traded at a
profitable spread of about 1.5 to 2%. It does not work everytime. I do
not fully invest on any given day, and I do not profess to have success
each and every day. However, it does provide an average close to open
position under two days with a an average yield above 1%. At the same
time, I have minimized my downside risk. If you are receiving greater
returns and results, then, indeed, my hat is off to you.
(head bowing down in humility and respect)
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