Investing For Growth
Investing For Growth
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FOOL GLOBAL WIRE LEXINGTON, KY. (November 7): It was another fine day for technology stocks as the Nasdaq Composite regained a little of the ground it lost in recent weeks to the Dow. The index closed above 1250 again and is now back within 4 points of its October record high.
Two of the Investing for Growth holdings benefited from the jump today: 3Com and SCI Systems both posted solid gains.
Another technology company in the model, ADC Telecom, made public its own estimate for the fourth quarter just completed on October 31. The company expects to post record revenue of $254 million, 46% higher than the fourth quarter a year ago. (Earnings should be reported on December 18.) The company earned 15 cents in last year's quarter. First Call lists the consensus estimate for this year's fourth quarter at 21 cents a share. The stock was up 3/8 today.
So what's ahead for IFG and tech stocks? You got me. But as long as interest rates continue to stay under control and corporate earnings (like those predicted by Intel today) remain steady and positive, growth stocks should continue to fare well. You'll hear predictions about next year ranging everywhere from total market crash to nirvana for the Bulls, but such is true in every year. And truth be told, no one really knows what's in store. Just look at this week, a terrific jump in the market, despite all the predictions that the election would throw stocks down and stomp on them.
The crystal balls on Wall Street aren't any clearer than the ones on your street, so save them for Halloween props next year and just keep working toward picking the best stocks in whatever market conditions we have now. That's all any investor can do.
One of my favorite recent television ads was a scene from a cocktail party where a woman was keeping her listeners spellbound with explanations of complex economic indicators and macro-economic events one must stay on top of. You know the type of conversation, one where the Leibniz Pre-Harmonic Oscillator might very well pop up. And of course, all around her were knowing nods of appreciation for her mastery.
Until, of course, some poor Fool asked her where she's really put her money. "You mean ... real money?" she asked, nonplused. End of scene. If the ad hadn't been for a mutual fund (if I remember correctly), it would go in my Hall of Fame. As it is, I remember it fondly and choose to forget conveniently who paid for the spot. But the ad sums up what it all really comes down to. Where are you going to park your hard-earned savings? Let's hope all our answers to it are Foolish.
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