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Message subject : what a week that was

This message was posted by colt45 on April 22, 2000 :

Now what a week that was!! Let me say at the outset my portfolio has a roughly 60 - 40 split between established companies and lets call it small cap/venture capital. Did I suffer this week? You betcha! Ive come off 30% overall because my best gainers turned into my biggest losers. So here I sit trying to rationalise the future and perhaps give some guidance to those out there who may have been hurt in the recent "correction".

Firtsly, to the simplistic debate that appears regularly in the media re New vs Old economy. This debate is so simplistic it is not really worth commenting on. What I would say is that Old economy coys who embrace technology will be better off for it and will likewise make good investments. Likewise New technology coys who provide the infrastructure will also provide good returns to investors. But did tech coys run ahead of valuations?? Is the pope a catholic? Why restrict yourself to one section of the economy?

One thing that needs to be remembered though is that without revenue a business cannot exist for very long, and this will drive valuations going forward. Seek out companies with real opportunities for revenues and if its a speculative company, only use speculative money. To the commentators...retricting our investments to companies with revenues today will severely restrict the advancement of the companies of tommorrow.

Finally, as investors we have to be constantly assessing our performance against the market. This requires cold hard reviews...perhaps we made wrong investment decisions...perhaps we got caught up in the euphoria...perhaps we arent good enough to pick succesful stocks?

I offer the following rules which I hope may assist:

- Develop your own set of beliefs and strategies for investing (investing is as much mental as anything)
- Do your own research
- Set reasonable expectations
- Never blame others for your failures
- Seek advice and dont be afraid to pay for it
- Take risks if your risk profile and circumstances allow it
- Contstantly learn and adjust your rules
- Seek out the ideas of experts and not media commentators or chat forum participants.

Thats it for now. Ive only discovered this site in the last 3 weeks. The forum comments are much more stmulating than the stuff Ive been used to. Keep up the good work!

I wish you all a better month.

If its your easter....Happy Easter

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