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wolfersmith (98.71)

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January 25, 2007 – Comments (4)

Wow. I can't believe I've made it into the top 20, after starting less than 3 months ago with a negative score. I confess, I got into the top 100 by copying the picks of anyone in the top 10, with no research on my own.

Since then, I've read a couple of the Motley Fools' investing books, studied the website daily, and decided that it was about time for me to start making my own picks. As TMFElderhad points out, you can't beat the people ahead of you just by copying what they're doing. So, as of January 18, I've been making my own picks -- and low and behold, my accuracy has gone way up! I should have trusted myself sooner.

Anyway, I shouldn't get cocky. I still have a LOT to learn. I finally bought some REAL stocks just last month and only 50% are doing well. :-( If only I had the money to buy all of my CAPS picks I might get somewhere!

4 Comments – Post Your Own

#1) On January 25, 2007 at 2:47 PM, seanleckey (99.79) wrote:

Congratulations. I just cracked the top 300. Success may be fleeting though.

Any specific reason you finally gave up on DRL? I can't decide whether to do so myself.

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#2) On January 25, 2007 at 6:28 PM, wolfersmith (98.71) wrote:

Remember I said I copied a lot of picks without doing any research?? I was just reading something about knowing when to sell. One of the times is when the stock no longer meets the criteria you set when you bought it. Well, now that I'm doing my own analysis, I realized that I never would have picked DLR in the first place if I had known what I was doing. Its stock price has been going down steadily for two years now. Maybe it has hit bottom, but I don't see anything in the fundamentals yet that convince me it's worth buying now. If that should change, maybe I'll pick it again for the ride up.

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#3) On January 25, 2007 at 6:29 PM, wolfersmith (98.71) wrote:

Oops. I meant DRL.

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#4) On February 01, 2007 at 11:59 PM, XMFCramerica (97.01) wrote:

Congratulations on your success! Glad to hear you are reading the Foolish books and jumping right into everything Foolish. Welcome to The Motley Fool, Fool :)

- Mike

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