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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (51588)5/21/2013 1:00:55 AM
From: Jurgis Bekepuris   of 78740
 
It does depend on the market and valuation. Most buy-and-hold was dead through the lost decade, although there were exceptions. OTOH if you have a bull market decade, selling slightly overvalued stock in the beginning of bull run would lead to underperformance as stocks run away and you're stuck with cash.

You say that "bear markets being distant memories", but how many here remember a true S&P bull decade in most of 1980's and 1990's? I think there were value investors who waited for a drop back to 5-7 PEs forever and missed huge runups.
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