Forum Archive Index - November 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Morgy,
 

> 
>Great follow up charts Phaedrus, clear & concise needing no
>explanation. I fear for the fundamentalists that you consistantly
>prove your case week in week out. I can't wait for Buffet to confess
>he has been a closet chartist all his life.
>
>

You'll be waiting a long time Morgy.  Buffett has had his go at 
charts and has given them up as worthless for his kind of investing.
Buffett doesn't look for tops or bottoms, so charts are of no use to 
him.

>
> 
>Or if you prefer to punt without using the TAB go to sharetrader or
>ozestock sites and you will find a whole host of Gurus spouting
>forth volumes of tripe on company potentials looking for the next
>best thing, trying to pick stock bottoms.
> 
>

I suspect you are trolling here, as the ability to pick the bottom is 
a claim I have never heard from any fundamentalist.  

Take my recent purchase of LPC at $1.46 for instance.  This was done 
in expectation of a 12% pa return before tax for the next few years.  

Shortly afterwards the price dropped to $1.41.  Did this effect my 
projected return of 12% pa?  Not at all!  People who bought in at 
$1.41 will get an even better return.  But so what?  I am very happy 
that there are others out there who will be doing better than me.  
This makes no difference at all to my own investment decision to 
invest in LPC, nor to my own projected return rate.

SNOOPY





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