Forum Archive Index - February 2002

[ichi@ihug.co.nz]

Phaedrus wrote:
> 
> (1) Buying and holding stocks that are in longterm uptrends is a 
>     successful investment strategy.

Sure.  You tell me which stocks will maintain a longterm uptrend
for the next five years and I will be happy to buy them.

> (2) Longterm uptrends can last for many years.

Sure.  And longterm uptrends can terminate abruptly.

> Would you not do better patiently holding stocks that are 
> steadily rising, rather than those that are going nowhere? 

Sure.  You tell me which stocks will steadily rise for the next
five years, and I will be happy to buy them.

> Buying static or falling stocks in the hope that something 
> good might happen further down the track sounds to me like 
> ..... speculation!

Sure.  And buying rising stocks in the hope that they will 
keep rising is also... speculation!
   
IMHO it is unwise for an investor to base his expectations
of a stock's future performance on its past performance.


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