Post of the Day
April 22, 1999
Foolish Eight Folder
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Subject: Re: Why I Don't Believe
Did I miss something here. Ed talks about the [Foolish 8] being legitimized by having a mutual fund modeled on this most Foolish approach. I thought one of the main reasons for investing in small cap companies was that mutual funds generally could not do this due to their size.
I would also like to say that I am a perfect example of David's philosophy of teaching people to think about their own investment. One month ago I was a complete imbecile in regards to the stock market (I may still be an imbecile but I am a Foolish imbecile). I have been investing in under-performing mutual funds for 20 years. My excuse has always been that I didn't have time to follow the markets. Last month I decided it was time I learned something about the stock market. Low and behold the first book I came across was TMFIG [Motley Fool Investment Guide]. I read it cover to cover in two nights. I have since read a number of other books but have found that none have inspired me as much as TMFIG.
I am now asking broker my questions like: "I need financial reports for 1Q99 for company X" and "I note that Company Y has 10% of their stock shorted. Do these people know something we don't?" I am sure that I am scaring the hell out of him. I think he realizes that he is going to have to start working for his money.
The point is, this book and the Foolish 8 have taught me the value of research and of making informed decisions. Will I blindly invest in Foolish 8 companies? Absolutely not! But I will use it as the valuable tool that it is.
On the road to Fool's Gold