Mr Don Buckley (34), a vice president at ABN-AMRO Group, New York, has been investing in individual stocks/index funds for more than six years.

On average he makes two transactions per week with a portfolio selected on the basis of 30 per cent growth, 30 per cent value and 40 per cent technology/Internet related.

His decisions to buy or sell are based on his own analysis of the relevant sector or industry, the outlook for a year or more ahead and the status of the particular company: for instance, is it the dominant player?

He points out that sometimes the smaller players in a rapidly growing sector become attractive as takeover bait for major corporations that are looking to diversify and get an immediate foothold in that area.

He sees the high volume sales of stocks which have not met analysts' expectations as a potential opportunity to pick up additional shares "if you believe in the company and its future outlook".