haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I do mostly stock picking, though for fixed income I just go with govts and CDs or occasionally if the markets seems way out of whack I buy a fixed income mutual fund or CEF.
With respect to the stocks, it seems to me that foresight can often help you be more certain that you are not way overpaying or buying a lemon, but luck always plays a big part too. I own Enbridge, a Canadian pipeline operator. I bought it mainly because I expect the Alberta oil sands to be a larger portions of US oil supply going forward, and ENB carries a good portion of that transport. But after I bought, the stock became very strong for a completely separate reason- the Bakken play in North Dakota. ENB is laying a lot of pipe for crude as well as gas and liquids out of that trend, and will make money from it almost from the get go. Another (E&P) position I have has also been quite strong- and it is at least in part because they have a lot of land and mineral rights in the oil prone part of the Bakken. I have known about the Bakken for years- a friend of mine was a land man out there before his company went belly up in the late 80s oil crash. But it really only got hot in the last 18 months or so, and I didn't even know that this 2nd company had rights up there when I started buying it 25 years ago. I did know that ENB had pipes running east of the Bakken, but I had no idea that this would become important. ENB is selling pretty high now, so I make no recommendation, I am only using it to illustrate my idea about luck.
Over the years I have had a number of these fairy godmother type events, and going forward I am going to try to look to see if there might be hidden assets that I would not be asked to pay extra for.
It seems that if I avoid going out on a limb, more good stuff happens than bad.
Ha
With respect to the stocks, it seems to me that foresight can often help you be more certain that you are not way overpaying or buying a lemon, but luck always plays a big part too. I own Enbridge, a Canadian pipeline operator. I bought it mainly because I expect the Alberta oil sands to be a larger portions of US oil supply going forward, and ENB carries a good portion of that transport. But after I bought, the stock became very strong for a completely separate reason- the Bakken play in North Dakota. ENB is laying a lot of pipe for crude as well as gas and liquids out of that trend, and will make money from it almost from the get go. Another (E&P) position I have has also been quite strong- and it is at least in part because they have a lot of land and mineral rights in the oil prone part of the Bakken. I have known about the Bakken for years- a friend of mine was a land man out there before his company went belly up in the late 80s oil crash. But it really only got hot in the last 18 months or so, and I didn't even know that this 2nd company had rights up there when I started buying it 25 years ago. I did know that ENB had pipes running east of the Bakken, but I had no idea that this would become important. ENB is selling pretty high now, so I make no recommendation, I am only using it to illustrate my idea about luck.
Over the years I have had a number of these fairy godmother type events, and going forward I am going to try to look to see if there might be hidden assets that I would not be asked to pay extra for.
It seems that if I avoid going out on a limb, more good stuff happens than bad.
Ha
