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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: chaz who wrote (51910)7/8/2002 10:27:40 AM
From: Jurgis Bekepuris  Read Replies (1) of 54805
 
Chaz,

At a risk of becoming a yes-man, I agree with
Malcolm's answer to you. I do not fear that stock XYZ will
run away. Buffett had some baseball metaphor
to that effect, which I as non-American do not understand.
:-))) I also don't worry that I will not catch the bottom.

I just buy cheap stocks in good companies.
And it has been my experience that if there are no cheap
stocks to buy, it is time to wait with cash
instead of being a time to chase expensive stocks.
Every time I violated this principle, I got punished.
By the way, now there are some good stocks to buy
cheaply. More than I have cash. But not in G&Ks.

I also dollar-cost-average in my 401(k) on index and value
funds, so I am really not afraid of runaway market.

I agree that "absolutely knowing the correct price of
stocks, or a particular stock" is impossible. I agree
that in times like this it is difficult even to narrow
down the valuation of a lot of stocks independent of
the metric used. For example, I own some EMC that
looked reasonable at the time I bought, but it is now
lower, yet at the same time more "expensive", less
likely to deliver a good return.

However, I hope that by being conservative and by selecting
the best companies (including G&Ks) I can buy stocks
with substantial security and reasonable return.

Jurgis - who is not a genius investor by far
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