Core Concepts: Computers and Office Supplies

02/02/07 - 03:38 PM EST

Arne Alsin

So how do you become a better stock owner? It starts with knowing what you own. If you are absolutely convinced that you hold Office Depot at 50% of value, for example, you probably won't short-circuit the opportunity. If you're unsure about what you own, the odds increase substantially that you'll miss out on a potential multibagger.

Note also the asymmetry between being a great stock picker and being a great stock owner. If you have a sound analytical mind and are able to detect patterns in the data that others don't see, you have a good chance of being a great stock picker.

To be a great stock owner, though, you have to turn off the analytical mind. That's because, over a period of years, an analytic mind can employ a multitude of excuses to short-circuit a great opportunity. When it comes to stock ownership, sometimes the no-brains have a distinct advantage.

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At time of publication, Alsin and/or ACM was long Gateway, although holdings can change at any time.

Arne Alsin is the founder and principal of Alsin Capital Management, an Oregon-based investment advisor, and portfolio manager of The Turnaround Fund, a no-load mutual fund. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Alsin appreciates your feedback; click here to send him an email.

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