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<<the upshot of which was that the very people I was so jealous of swore that they had never been able to do as well trading as they did LTB&H>>

I have no interest in instigating - much less participating in - any "heated debates" on the subject of LTBH vs timing. My results with timing have been far superior to what they ever were with LTBH (or would have been with LTBH). As I point out on the market timing page at my website, there is no natural superiority between one approach and the other. What is best for the individual is what most closely suits his psyche (a high-rish approach, for example, no matter how demonstrably superior, is inappropriate for anyone with little tolerance for risk).

<<and that the only way their skills came in handy was in trying to find somewhat reasonable entry points and in making relative valuation decisions among otherwise equally attractive investments>>

This is the key sentence: "reasonable entry points". What experienced investors tend to forget is the number of inexperienced eyes which read their words. In a sense, message board posts become an almost private communication, particularly if they are cloaked in jargon. And when one comments that certain stocks are buys at any price, he needs to remember who will be reading that and perhaps taking it to heart, even though he may not have meant the comment to be taken literally. Taking the position that each individual must "do his own homework" does not absolve one from the responsibility for the ramifications of what he writes, though it may not be a legal one. And even though there seems to be a grudging admittance that perhaps the boisterousness regarding QCOM was misplaced near its highs, the same attitude has begun to develop with regard to RMBS (lessons are repeated until they are learned).

As for valuing something according to whether we've seen it, heard it, eaten it, been there, or can do it (or not), I am the first to admit that I am a terrible daytrader. However, I am more than willing to agree that the profits in daytrading can be impressive if one is suited to it. The fact that one knows little or nothing about timing does not mean that there's nothing about it worth knowing. The fact that one can't do something doesn't mean that it can't be done or is not worth doing. There are stocks in my portfolio that have been there for years, but that doesn't mean I wouldn't sell them tomorrow if technical conditions warranted. By the same token, my profits in cyclical stocks - such as semiconductors - are far superior to what they would be if I were simply to hold them throughout. And recent market activity has demonstrated again that even those stocks which aren't as subject to cyclicality do go through periods of overenthusiasm and react accordingly.

Again, choosing a reasonable point of entry and even of temporary exit is not only not impossible but not even very difficult. The fact that one might not have time for it or interest in it is a completely separate issue.
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