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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (16188)1/18/2003 4:11:05 PM
From: jeffbas   of 78744
 
Paul, I share your view.

In my opinion investing is about buying ownership in a company (that you plan to hold for years), not playing with pieces of paper. I like what Warren Buffett said about waiting for the right pitch and then being happy if the stock got cut in half after you buy (because you get to buy more at an even better price). This has nothing to do with stop-loss orders.

Another thing Buffett has said is that he would not care if the market did not trade for six months. An extension of that thinking is that a public market (with daily quoted prices which fluctuate far more than the fortunes of the underlying businesses do) is not a required ingredient to successful investing - as anyone in real estate could tell you. What a public market does do though is precisely because of the extreme fluctuations give an investor an opportunity to buy stock in companies where the price has deteriorated far more than the fundamentals and to sell the opposite situation.
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