The late Al Frank had a newsletter, the Prudent Speculator, which was ranked very highly on return for 10 & 20 year periods (some 23% annual avg.) He's a long term investor (avg 6.5 years), fundamental value. NOT day trading!
Here's a bit from an interview with its current author: You recommend that your readers carry fairly large portfolios. Diversification is so important to our strategy. In a million-dollar portfolio, we think you should have 100 stocks, minimum, representing more than 20 different industries. In a $100,000 portfolio, we'd like to see 30-35 stocks. When you get below 30 stocks, the Worldcoms can really kill you. No matter how much homework you do--and analysts still did a lot of research on Enron and WorldCom--you can get caught with your pants down. ---- I find this level of advice useful, but also frightening; I don't have even $10 000 to invest now, so maybe I'm better off staying out. Or just buy some ShareBuilder dollar cost averaging; not going to subscribe to a newsletter ... Tom Grey http://www.forbes.com/pushfiles/ipaq/0628adviser.html is the article http://www.sharebuilder.com/ looks like a good program for newbies, and poor folk (like me). -----Original Message----- From: Bryan D Caplan [mailto:[EMAIL PROTECTED]] Sent: Monday, August 05, 2002 6:24 AM To: [EMAIL PROTECTED] Subject: Re: efficient markets ... Koushik Sekhar wrote: > > How many of you (of those in thes US) who believe in efficient markets are > investing in US equities now and have invested in them in the last 2 years ? > If your answer is NO then why are you not investing in US equities because > if markets are efficient all bad news must be priced into the stock prices > .. right ? I am. I am increasingly convinced that crowd psychology plays some role, but changes in crowd psychology don't seem any more predictable than anything else.
