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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: LemonHead who wrote (14179)	1/4/2001 9:17:35 PM
From: Gemlaoshi	Read Replies (2) of 18928

Hi Keith! I've been out of town for over a week, so I'm just catching up with all of the posts...I find the different perspectives so educational. Security Analysis is similar to Mr L's book...I'm not sure I will ever truly understand all it has to offer, and every time I open it, I see another gem of wisdom. It's really an "unfolding" of knowledge. Your snippets from the book are excellent choices on investor psychology. The market can obviously become greatly overvalued/undervalued, and stay that way for what seems like long periods of time. Even David Dreman warns in his books against buying a stock just because it is undervalued...it can stay undervalued for years! The "masters" at this game seem to have the steely self discipline to not get sidetrack by the current investment fads. I think that is what makes AIM so invaluable...it instills a discipline when our emotions want to run away and so something stupid! Fortunately, I never really understood the rationale behind "momentum" trading. It just seemed too much like another version of the greater fool theory to me. Tom, Bernie, you, and the rest of the contributors to this thread are providing a great service by constantly reminding us that to survive and thrive for the long haul is what it's all about!! I hope you had a great Christmas, and that 2001 is rewarding in every way. Dave

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