Monday, December 8, 2008

IBD Committment by Dave

Bob ...... thanks for the recap ... I continue to follow the group's meeting recaps even though I've not been to meetings. We'll be leaving for AZ prior to the next meeting so will be next spring before I see you in Wilmington again.
Even though I'm not a "true blooded" IBD guy I think your plan for the next meeting is a good idea. Saw Kent's comments in his response to your last meeting reminder. I attend various groups meetings (IBD, VectorVest, AAII, Elder's Triple Screen, etc.) on a sporadic basis both in eastern NC, and in AZ when there. One of the things I've noticed is ... with the exception of AAII ..... they all get off target. I have have found this interesting because everyone I talk to at these meetings agree the key to any TA method is discipline but then everyone (there is always the exception like Kent) goes off target. And it seems when the markets are tough ..... the exact time discipline is most needed .... is when people stray the farthest looking for the "better method".
My reason for originally attending your group was I was in the process of developing "my method". As a result of that meeting and Kent's comments, I read two of O'Neil's books, attended a couple more meetings, and decided O'Neils method(s) was not best for me. One of the reasons for this decision I have met few "real users" (like Kent) of the method at the meet-up groups I have attended. But there are elements of it which I use and like to stay up to date on. Have often wondered what the response would be if one of your meetings opened with the question of all attendees ..... "On a scale of 1 to 10 (10 being 100%) how strong of a IBD method advocate are you? ..... and what do you want from these meetings?" I have the impression most IBD subscribers use the newspaper to save themselves the trouble of creating their own Watch Lists. At least the ones I know in the New Bern - Greenville and Phoenix-Tucson areas.
Looking forward to learning how the January meeting goes.
Good cheer, good health .... and peace be with you.
Dave Bester

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