One thing that I wonder about that doesn't get mentioned much on...

One thing that I wonder about that doesn't get mentioned much on HC is the effect of churn - by that I mean not pip trading for small profits, but long termers with a deliberate strategy of gradual accumulation by regularly selling a smaller portion of their holdings and then promptly buying back a few more with the proceeds.

With online brokerage fees so low, why wouldn't you ? and this process spread over the course of time can have the effect of gradually driving the SP down (in between announcements) beyond what others are saying about larger forces at work.

Seen that way, it can look like lessening interest in the stock, but in reality there is a lot of sticky accumulation going on as people accumulate more and effectively drive their av. price down - thus proactively growing the value of their investment for very little cost. Just some brokerage and deferred capital gains to worry about later.

I have done it a few times, and admit to getting it wrong also, so not saying it is easy to do on any stock.

Just like it because while the company gets on with their job (over which us retailers have little control lets face it) we can continue to enhance our positions.

This also helps in a way to narrow down what to invest in. Great companies with stellar management, and enormous growth potential - as other say, under-promise, over-deliver.

IMO EMC is a prime example of this principle. GLTAH