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Steve Selengut

Steve Selengut http://www.sancoservices.com/ Professional Portfolio Management since 1979 Author of: "The Brainwashing of the American Investor: The Book that Wall Street Does Not Want YOU to Read", and "A Millionaire's Secret Investment Strategy"


Articles by this Author

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Just as Congress picks corporate pockets, Corporations pick those of their shareholders. The compensation of corporate officers is a clear example of how this has gone totally out of control, even if it is understandable under existing tax codes both corporate and individual.

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Trading does not have to avoid the income securities that are so important to the long-term success of an investment portfolio. No more worries about liquidity and hidden markups. No more cash flow positioning or laddering of maturities. And best of all, no more calls of your highest yielding paper when interest rates fall. Instead, you are taking capital gains and compounding your yield.

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... ETFs, a combination of the two, don't even address the question properly... AND their rising popularity has raised the risk level throughout the Stock Market. How's that, you ask? The demand for DJIA stocks included in ETFs is raising their prices to levels that have nothing to do with company fundamentals.

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How Do You Spell Correction?

By Steve Selengut | Published 08/17/2007 | Finance |

The problems, and the solutions, boil down to focus, understanding, and retraining. But for now, relax and enjoy this correction. It's your invitation to the fun and games of the next rally, when you will see that correction is spelled o-p-p-o-r-t-u-n-i-t-y.

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Most investment portfolios do have both a set of reasonable goals and a plan for moving in their direction. Performance is a measure of this movement toward our objectives and it is generally considered a long-term, personal proposition. Wall Street has created its own definition of performance, one that has nothing to do with the structure and design of your portfolio.

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Corrections are as much a part of the normal Market Cycle as rallies, and they can be brought about by either bad news or good news. (Yes, that's what I meant to say.) Investors always over-analyze when prices become weak and lose their common sense when prices are high, thus perpetuating the "buy high, sell low" Wall Street lunacy.

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November is particularly exciting because it hosts the convergence of four Katrina-level forces, all of which are part of Wall Street's conventional wisdom while none of them lead to intelligent investment decision making. And this year we have a special treat in the form of a Category Three market correction in the Value Stock sector.

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The Brainwashing of the American Investor is a book I wish I had been able to read 30 years ago. Those of you who still have years of investing ahead of you would do well to buy this book and read it thoroughly two or three times. It will save you a lifetime of mistakes that come from following conventional wisdom.

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In other words, what I am looking for is a selection universe of fundamentally valuable companies that can be expected to remain that way for a significant period of time, not just a bunch of random symbols that someone believes are at garage sale prices.

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Brokerage firm monthly statements are designed to promote either fear or greed, depending on the current market environment. Nowhere on your statement can you find numbers that report your net investment, your total working capital, or your true asset allocation. Current and projected income numbers are given little attention

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