If there is one lesson that I think many players will garner from CAPS it is respect for the S&P500 and index investing. For many a very worthwhile lesson. For example:I'm looking at ending a couple of picks that I made a year ago. They were CVS and WAG, and I selected them on the theory that they were oversold after the announcement by Wal-mart that they would offer very cheap generics of some drugs. CVS is ahead of the S&P and WAG behind - but I selected them for a 1 year period and that period is nearly up. Forgetting the companies and their selection, what I can't help but notice however is the S&P! It is up ~12% over this period, despite it's recent weakness and volatility. That's a pretty darn good year (TTM), and I bet most investors with the last 3 months staring at them don't see it that way. Well, they should, and I bet a good few are realizing it largely due to CAPS.Zz
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