Sticking to the point.

• Author: Maley, Frank
• Position: Feature - Column

"I don't want to go out and embarrass myself." I know just how Frank Jolley feels. That was my goal when I became the first BUSINESS NORTH CAROLINA editor to participate in our annual stock-picking competition. Sad to say, I did not meet my goal.

In a year when all of our panelists finished in the black, I landed 3.9% in the red. Two of my picks--Duke Energy and MedCath, both based in Charlotte--lost ground. My only winner: Winston-Salem-based R.J. Reynolds Tobacco Holdings. My only other consolation: This year's top two panelists, Jolley and George Shipp, also bet wrong on Duke and MedCath, respectively.

Because thinking about my picks didn't work very well, I've cast off the burdens of research and reason and sought refuge in randomness. I cut out our listing of the state's 75 largest public companies from our August issue, taped it to a cubicle divider and started pitching darts at it. Three hits later--never mind how many throws that took--I had my picks. I'm not normally inclined to think that our little contest would merit divine intervention. But after looking at my three choices and their performances in the previous 52 weeks, it seemed as if an invisible hand guided my darts according to this precept: Buy high, kiss your fortune good-bye.

1st State Bancorp Inc.

At $25.77 on Oct. 17, Burlington-based 1st State was within $2 of its all-time high. It...