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Oak - Rob Landley
Rob: I've been hanging around the Fool since the beginning of 1997. Somebody (CNN.com?) did an article about how the Fool Portfolio beat everybody else (hey, publicity!), and the immortal words "why not" were probably involved at some point. So was a hypertext link. :) Fool: Bless those CNN folks! Tell us, what's your favorite stock today and, briefly, why? Rob: That's not fair, there are so many! I lean toward techs partially because it's what I know, and partially because computers are revolutionizing the world today the way manufacturing did during the industrial revolution. The company that brings it all together best is probably Dell. Dell is amazing. They took the direct channel to the mass market, and changed their entire industry. They're staying ahead of their competition with lower overhead, faster inventory turnovers, and by selling through the web (all this e-commerce you hear about). You're not betting on the success of Windows vs. Java, Intel vs. Motorola or AMD, Seagate vs. Western Digital... No matter who wins, Dell is happy to sell their stuff. Fool: Can you elaborate a little bit about your overall investment approach? Rob: "Till death do us part." I tend to like things I can buy and hold for years, so I don't have to be right with any sort of regularity. I chose my handle, "Oak", because it exemplifies slow and steady long-term growth. Also it was the code-name for Sun's Java language during its early development. I have an old button somewhere that says "every mighty oak was once a nut that stood its ground."
Fool: Do you have any embarrassing stories to tell about a horrible stock pick you've made? Rob: Recently I bought into my first small cap (Super Vision, a manufacturer of fiber-optic lighting), right before this whole Asia thing hit. The stock went from 8 1/2 to 5 1/2 in one day on absolutely no news. Oh well. I still think it has a good future, and I'm hanging on to my shares. I don't think I've really had a debacle yet. You have to sell before you can register for debacleness, don't you? Fool: Well, not always. Just ask David Wolpe. What's the worst investment someone can make, in your opinion? Rob: Again, there are so MANY... Investing in ANYTHING 50% on margin. Putting your entire portfolio in a single small cap. Anything having to do with "options" or "futures." (Hey, at least at Las Vegas you get a floor show...) There are zillions of ways to lose the money you've saved. Never saving any in the first place is probably the easiest answer. Saving it in a passbook account and watching inflation eat it is probably #2. Fool: Rob, is there anything that the Fool doesn't offer that you'd like to get here? Rob: Oh, immortality in a can, a million dollar door prize, a weekly column by Warren Buffett... The usual. Fool: Okay, Rob. Now for some fun stuff! Make a confession. Rob: I'm a nudist. Fool: Whoa! Okay, is there anyone that you'd like to say "Thank You" to that you've never had the chance to for some reason? Who and why? Rob: Hmmm... "Pappy" Parker (my high school Shakespeare teacher). Best class I had in the whole of high school. (Which admittedly isn't saying much, but he's probably the reason I got an English minor in college.) Fool: Everyone has their "15 minutes of fame." If you've had your brush with fame yet, tell us about it. Rob: You mean this isn't it? (pout.) Fool: Thanks Rob :) Great Interview! |
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Rob Landley as a kid... the next Buffett?