Monday, April 19, 1999

Wise Temptations


Although I've been a Fool for a couple of years now, I still make mistakes from time to time. Usually it happens after I listen to one of the Wise.

I work for a not-for-profit organization that manages donor funds. Often, I will see our Wise investment officer researching the latest hot stock our custodial broker has recommended. He will take out his chart book and ruler and convince himself that the latest dip or "teacup" shape of the chart portends an imminent jump in price.

I, the Fool, take the time to go to the library, get Value Line, input years of data into NAIC's Stock Selection Guide, and estimate future potential. Almost always, that "hot buy" is revealed to be a "hold" or "sell" when subjected to such organized analysis.

Nevertheless, I have been known to ignore my Foolish data and buy on a Wise tip. But I have never profited from such a Wise move, while my own Foolish analysis has resulted in numerous doubles. I would be far ahead if I could only do two things consistently: stick to my own Foolish analysis, and convince our investment officer to become a Fool.

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