Oct
26
As Fonzie Would Say, “Sit on It”, by James Sogi
October 26, 2006 |
My father told me the best way to invest was not with your head, but with your seat. “Just sit on the stocks.” During the last half of the 20th Century this was certainly good advice. Despite the aberrational volatility at the turn of the century, it almost seems like my father’s advice is still good today. Since the War started, we’ve been on a steady grind up with hardly a major pullback in this bull market, almost like in the old days as prices just grinded up and up and dividend checks came every quarter. As I get older I realize how much smarter my father has become.
Larry Williams counters:
But what if your drugs of choice were Intel, United Airlines, GM, Kodak, Polaroid, Albertsons, etc? All “great growth stocks” at one time, but now disasters.
James Sogi responds:
Diversification helps avoid total loss. I’m not a stock picker, but now we have ETFs. The Dow just made an all time high.
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