Mike,
>>Less lazy, not co-opted, experienced, a cranky old
contrarian.<<
I think I'm not nearly as smart as a lot of analysts, but I think I have a more sound way of looking for potential investments than most people that are smarter than me.
Q: How do you beat Bobby Fischer?
A: Don't play him chess.
If everyone is geared towards short term earnings projections, predicting interest rates and the Fed's next move, predicting the economy, indexing, CAPM, or other ways of looking at businesses, that can't possible be the right way for me to play. For one, I'm not smarter than they are. For another, they have more time and access to more information.
But that doesn't mean a can't learn a few sound principles that might help me identify undervalued businesses in ways that others are not focusing on. I think I get better at that every day.
Wayne |
