Forum Archive Index - February 2002

[Phaedrus <Phaedrus@techemail.com>]

 The composite chart attached below plots the last 120 weeks for 9 NZ stocks. 
To my mind this provides irrefutable evidence for the following conclusions :- 

(1) Buying and holding stocks that are in longterm uptrends is a successful 
investment strategy.
(2) Longterm uptrends can last for many years. 
(3) The NZ market has many stocks in this category.
(4) These stocks have performed well historically.
(5) They are continuing to perform well.

 One of the personal characteristics required for successful longterm investing 
is patience. Would you not do better patiently holding stocks that are steadily 
rising, rather than those that are going nowhere? Buying static or falling 
stocks in the hope that something good might happen further down the track 
sounds to me like ..... speculation! 

                Phaedrus.


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