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I believe many could have timed an exit on QCOM better than they did.

True, but Gorilla Gaming is a long-term buy-and-hold strategy, not a timing strategy. I certainly could have sold my Qualcomm in early January. I had a strong opinion that the stock was subject mostly to momentum players at the time. I ignored the analyst's expectation of the $1000 pre-split price target, mostly for reasons explained very well in the March 6 Forbes article about analysts.

Why didn't I sell?

Because it's not my strategy to sell every time I think a Gorilla is wildly over valued as I thought Qualcomm and the Naz were at the time. The reason it's not my strategy is because I would then have to determine an entry point to get back into the stock, which becomes yet another timing issue. Timing issues can be messed up big-time by an unexpected press release for the good or the bad. So I stick to long-term Gorilla Gaming and simply hold onto Gorillas until I see a threating discontinuing innovation or a better tornado opportunity in an infant Gorilla.

Having said all that, I do believe investors would be wise to take various factors into account before deciding which Gorillas and candidates to purchase: market opportunity (size), where the product is in the adoption life cycle, and valuation. If I were to find two Gorillas that were fundamentally equal in the first two categories but vastly different in the valuation category, I would certainly go for the lower valuation. However, it's unlikely to find such an easy decision-making scenario.

--Mike Buckley

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