We made a decision in 1998 to move some of our assets into the tech space. I am of the opinion it will be tough to beat the market long-term without some representation in tech. However, in 2000 if you owned any tech, you were really beaten down. I think the answer is not to decide to be overweighted in tech or underweighted in tech. It is Charlie's opinion that a liberal arts view of the world will greatly benefit a person in achieving worldly wisdom.
Stock picking is but one subdivision of the art of achieving worldly wisdom.
Latticework points out the insights one can gain by taking a broad multi-disciplinary approach to investing. We don't use any one specific approach. We also try to keep abreast of how businesses are changing and then try to determine if the market is accurately discounting this new information. WE also compare similar businesses to try and understand why the market will price on security at one price and another similar security at a much different price. It really is a catch all approach that tries to be constantly aware of how markets and company stock prices change.