RE: [CANSLIM] Recommending stocks - my thoughts

From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] Recommending stocks - my thoughts
Date: Sun, 21 Apr 2002 17:59:33 -0400

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Well said.  Thanks.

Duke

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Dave Cameron
Sent: Saturday, April 20, 2002 11:19 PM
To: canslim@lists.xmission.com
Subject: [CANSLIM] Recommending stocks - my thoughts

I tend to agree with what seems to be the majority.  But let me chime in
here anyway.

1.  I think if people want to post their buys, that's great, as long
as they give reasons behind it.   I am mature enough to not just
tailcoat someone's trade.   I've lost money (years ago) doing that;
don't plan to again.   Its a good way for us all to learn.

2.  If people don't want to post their buys, that's fine too.  The only
caution I'd make is overvaluing someone's future success based
on their past success.   I've seen some comments like "I was up 80%
in 1999, but down 15% in 2001".   Take these comments for only what
they are worth, a statement of past performance.   Every market is
different, every day is different.   What someone did last year isn't
relevant.   What they are doing now is.   

3.  Very few of us "prove" our performance or qualifications.  We simply
have to judge whether we can get value from others based on our thoughts
and reasoning that can be helped by other's comments.  
I could tell you I was up 140% in 1995 or down 50% in 2000 - and
you'd have no idea whether I was telling the truth or not.   (Both
are directionally correct, but exaggerations.)   Yet, if anything I
post makes you think more - then I've helped.   People like Tom and
Katherine are good at making me think.

4.  One of the things I like about this list is that a lot of the
active posters talk in terms of principles or rules.   I think the
best value to be had on this list is to learn to think like a
successful stock investor, and then follow through.   If one really
learns and thinks and acts, then the confidence level will be higher,
and one will learn when to get in and when to get out - and not be
unduly swayed by other's opinions.   In order to be successful at
CANSLIM, I firmly believe one needs the knowledge AND the confidence
that one will be successful.   My worst periods have always been when
my confidence is down and my decision making wavers.   Anyway... to
me, this type of discussion is much more valuable than "I bought IGT
because..."

=====
Dave Cameron
dfcameron@yahoo.com

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