2008年1月29日星期二

Full of bull
Stephen T.McClellan

Best company
1.Find unique, focused companies leading a new or niche Market
2.Look for specialized, simple businesses
3.seek double-digit Growth or robust cash generation
4.pursue healthy, stable, or expanding profit margins
5.insist on a robust balance sheet and quality finances
6.look for all-around quality in executives, customers, board members, and partners
7.avoid arrogant, overconfident management
8.Prefer smaller companies over giants
9.avoid weird stockl structures or sweetheart management setups

Capital preservation
1.preserving capital is the first priority
2.invest in themes and rising industry sectors
3.hold only a modest number of stocks and choose familar companies
4.low price/earnings multiples reduce risk
5.dividend yield is important
6.Hold stocks long-term
7.trading is entertaining, but like gambling,it's ususally fruitless.
8.NYSE-Listed stocks preferred over NASDAQ shares
9.Tread Lightly with international companies
10.Turnarounds almost never work
11.Don't try to catch a falling safe
12.avoid participating in initial public offerings
13.Mutual funds are no panacea; the cost of safety is boring mediocrity
14.Disregard Brokerage Recommended or Emphasis Lists
15.Flag your purchase Date; Focus on the One-year
16.Short-term Trading Positions should be contracted

Pragmatic investing Practices and Techniques
1.once you decide, take action
2.avoid selling the day of a dramatic downgrade
3.most downgrades are later; the stock price has already fallen
4.don't buy or sell in reaction to press articles or media information
5.pay attention to contrary evidence.
6.Clean up your porfolio and rethink your strategy periodically
7.Be alert to the January Effect
8.Exchange Ideas with informed associates
9.Beware of Amateurs Recommending their stocks; They love reinforcement
10.Read the Wall street journal, Be aware, and stay abreast of trends
11.little of essence is revealed in quarterly earnings press releases
12.Listen to your companies' quarterly earnings conference calls
13.Executive briefings and analyst meetings ususally send stocks lower.
14.Stop loss orders can protect Big gains but are mostly for traders
15.Hedge Fund positions are a source of credible investment ideas
16.incidental professional stock recommendations are problematic.
17.Technology stocks are a huge risk, a maturing industry
18.Give stock to your kids

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