Re: [CANSLIM] How are you choosing your stocks?

From: Dimitri Katsaros <dcka@yahoo.com>
Subject: Re: [CANSLIM] How are you choosing your stocks?
Date: Fri, 26 Apr 2002 02:35:56 -0700 (PDT)

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Hey Katherine,

You state many good points. So then, as a "scout" for
potential stocks, one must still have minimums (which
is what I thought WON was stating, my mistake). How
then does one develop minimums so that a meaningful
screen can be created (or can one?)

Thank you
Dimitri

- --- Katherine Malm <kmalm@earthlink.net> wrote:
> Hi Dimitri,
> 
> The contradiction *is* the point. Think of it this
> way. Let's say that you are a scout for a
> professional sports team and someone has given you
> the following statistic:
> 
> The average height of world class professional
> athletes is 5'7"
> 
> Let's say that as a result of that statistic that
> you refuse to look at any athlete who is less than
> 5'7." What does that mean? You have taken an average
> and turned it into a minimum. 
> 
> Here's another example. Let's say that somebody
> tells you that the batting average of professional
> baseball players is 700 and that as a result you
> refuse to look at any baseball player who has an
> average of less than 700. You would say, of course
> that's silly, because if I'm scouting for a team,
> I'm looking for an athlete who has a well rounded
> set of skills and/or has a set of skills that adds
> value to the team as a whole. You may, as a result
> of past studies determine that a baseball player who
> has a batting average of less than 200 is
> unacceptable, but you would not refuse to look at
> them if they had all the requisite skills and a
> batting average of 650.
> 
> The point is that you have to look at the
> preponderance of evidence for the stock and not
> build your screens so tightly that you eliminate
> excellent candidates just because they meet some
> arbitrary minimum cut offs that are based on
> *averages* for past winning stocks.
> 
> Katherine
>   ----- Original Message ----- 
>   From: Dimitri Katsaros 
>   To: canslim@lists.xmission.com 
>   Sent: Friday, April 26, 2002 12:02 AM
>   Subject: Re: [CANSLIM] How are you choosing your
> stocks?
> 
> 
>   Katherine,
> 
>   This seems quite contradictory... if one cannot
> sort
>   according to the recommended minimums, then what
> is
>   the point of stating them and... what is the value
> of
>   the Daily Graphs Custom Screen Wizard?
> 
>   Just learning as I go
>   Dimitri Katsaros
> 


=====
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