Use the annual report to assess management and cash allocation. Reinvest in your most promising holdings. Don't trade often. Sell a stock if it becomes overpriced compared with the rest of the market. The December 1999 Money Magazine also has an article on the five great myths of Internet stocks, which emerged and gained acceptance in large part because of the success of today's Net darlings.
Efficiency is a highly developed form of laziness.
Moody's Investors Service reports that of the 1,606 issuers rated Ba1 or lower, over 93 have delayed or failed to make timely payments on their bonds this year. In the last few years the volume of speculative grade financings has risen as interest rates fell and high-yield bond funds needed product. Thus, as more issue are downgraded or new issues are sold at lower credit ratings, the more likely they will eventually go into default. Sounds right to us. Decedent retired in 1990 and fathered a child four years later.