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Strategies & Market Trends : Value Investing

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To: Ron Bower who wrote (2015)9/28/1997 4:34:00 PM
From: Michael Burry   of 78670
 
<<PRMO & TLC were great buys at the time because they did run up. Any stock is a great buy if it runs up
after you buy it.>>

IMO, they would have been great buys then even if they
hadn't moved. The story behind the value validates
the value, not a 6 month subsequent price history.

Re: traditional value of the stocks listed, everyone
formulates his/her own definition of value. I don't
believe they were speculative at all.

Re: when to sell: "A stock well-bought is half-sold." --
Walter Schloss. That sums up value investing, IMO. I
always sell too early as a rule.

Good Investing,
Mike
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