It's
tougher to pick stock winners than you may think from reading or
listening to the financial media.
Everyone
believes they can, but after all the effort, how many do they really
find?
You
hear about big winners but how many of those are available? How many
are recognizable early on? It’s always easy to find those who did,
after the fact.
Moreover,
when you look at these relatively small numbers, you find that they
had their periods of ups and downs. The profit numbers look excellent
only after years of market wear and tear. How many investors had the
stomach and discipline to buy those stocks at their lows and hold on
to them to their highs?
None
of the successful securities had gone up in a straight line. They hit
bad cycles when most of the original holders lost faith, deserted
ship and sold. (See the
Earl J. Weinreb NewsHole® comments.)
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