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Message Icon Topic: Why not to look for new ideas – always? Post Reply Post New Topic
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almeida
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Quote almeida Replybullet Posted: 19/Apr/2011 at 3:07pm

Nice words of wisdom. Great work.

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abhishekbasu
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Quote abhishekbasu Replybullet Posted: 19/Apr/2011 at 3:36pm
Originally posted by wiseowl

Originally posted by abhishekbasu



 
There are lots of reasons why people buy and hold stocks. Peter Lynch sometimes bought stocks just to be keyed in on its business. The thought behind it is that you tend to watch the companies that you are invested in more closely than others. Same for Rakesh Jhunjhunwala in India.




Today there are several other ways to stay clued in to the business ; buying a stock is not a necessity. Annual reports are freely available on a company's website (and in many other places) and so are transcripts and audio recordings of conference calls. There are several business newspapers and news channels. Watching from the sidelines is more easily possible these days than earlier. Of course, one needs to have patience.

"If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes."  - Warren Buffett



I think you missed the point that I was trying to make.

1. Don't you think Rakesh Jhunjhunwala/Peter Lynch has/had access to annual reports or newspapers or audio conferences or whatever else you mentioned? Sometimes, people buy into a stock so that they are more attentive to the developments in the company. That has nothing to do with accessibility of information.

2. Buffet is talking about "owning", not buying or selling. I absolutely agree with that. If I am not happy with a stock I own, I would rather sell. On the other hand, if I am not willing to BUY today, does not necessarily mean I will sell today.

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j2eeprofessiona
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Quote j2eeprofessiona Replybullet Posted: 19/Apr/2011 at 6:14pm
Originally posted by abhishekbasu



The last sentence seems to me contradictory to the overall message of the post. "If a stock that he holds does not qualify as a buy then he has no business holding it in the first place" -- implies that one should SELL any stock one holds that is currently not on his buy list.


the point is not that. what's implied is that if the stock is not good enough to be bought (viz-a-viz the one u plan to buy), you should not be holding on to that stock. if you feel the scope is not too much then what's the point in holding it. go with the stock with better scope of appreciation. thats what i think is the implied meaning.
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itpro
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Quote itpro Replybullet Posted: 19/Apr/2011 at 7:22pm
Originally posted by j2eeprofessiona

 
what's implied is that if the stock is not good enough to be bought (viz-a-viz the one u plan to buy), you should not be holding on to that stock. if you feel the scope is not too much then what's the point in holding it. go with the stock with better scope of appreciation. thats what i think is the implied meaning.
When do we know this? There are up's and down's....one can sell out or hold on? That itself is a question.
 
take example of Wipro... it is currently not delivering.. some of the better bet is TCS. But in previous there must have lot's of up's and downs'... and one who has held on got a spectacular return... but at the same time we can't say that the one who has switched has got the lesser return. He might have got better return...
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Quote getmanoj Replybullet Posted: 19/Apr/2011 at 8:20pm
[ So many families could have lived happily had people not looked for the new ? ] ..... we missed this gem ;) ...
The charm of buying "new" is there, not only in stock market but in day to day life as well... most of us like to buy new phone, new gadget, new house , new car .. although they don't necessarily provide the best option (on a price-value basis).
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Quote csbhasin Replybullet Posted: 19/Apr/2011 at 8:23pm
Clap

Excellent article and intelligent guidance for the forum members.

It is seen that what ever we save that we invest some where and those have knowledge of investment in share definitely put more and more in shares only. They keep aside  many other important pending task or go on postponing to put money in other necessities and prefer to put more and more money in share. [ If you do not agree then please guide what should be the philosophy of investment or life in this regard.]

Sir, now, one thing I wish to know that if we go on adding more and more shares to our portfolio then when we should sell them so as to enjoy the fruit and compete our pending tasks.

csb
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csbhasin
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Quote csbhasin Replybullet Posted: 19/Apr/2011 at 8:33pm
notify me of reply
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bmchandrasekhar
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Quote bmchandrasekhar Replybullet Posted: 19/Apr/2011 at 9:08pm
Excellent article by Basantji. That's why home cooked food by our mothers are taken for granted and people relish 5 Star food and why Sholay is still a 3000 bagger movie instead of watching new ones.
 
"Intelligence and Brilliance may win the day but its wisdom that endures."- Peter Drucker
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