Fefifofum I dont think I corrected you on the duration of medium term, I said what I thought was medium term, my opinion. The example I gave of a long term investment was extreme but did indicate long term could be a successful strategy. There are plenty of other examples of successful long term investments. Extract could be bought for cents a share in the early part of the last decade. People dont necessarily anticipate these sorts of returns. Who is being defensive? It would be unwise to buy a stock because some one says its a bottom draw candidate. It is probably more important to understand a long term stock than one for the short term, more time, more things to go wrong. Best to pick your own long term investments. There are far more bad long term investments than good ones. I would describe my self as medium term but I might continue to hold some stocks if circumstance makes it appropriate.
