Hello ACF Mike, I have as much <<time on ... hands>> as you do in this perpetual cocktail party that is SI. Now that we have settled on that point, we can move on.
As to <<the footsteps of Graham, Dodd, Buffett, Nygren>>, the first two gents are dead, and stocks per their parameters are not to be found amongst the big cap funds. While Buffett is buying shares, he is doing so away from the big NYSE caps, and had been diversifying away from equity by buying insurance companies chokeful of bonds. He is now waiting for an accident to happen, either financial derivative or thermonuclear in nature, so that value will once again be uncovered. Nygren cannot be finding too many bargains, given companies' private market value is decreasing even as their stock price remains highly prized.
<<smart enough ... research time ... do a great disservice to the SI rank and file by suggesting that this may be possible for them>> … is a nice try to divide the brotherhood that is SI.
I am alert, opportunistic, pragmatic, and above all, careful. I am also quite transparent achamchen.com and as far as I can see, there is no trades here that cannot be executed by any.
On research, I admitted to Pezz this …
<<http://www.siliconinvestor.com/readmsg.aspx?msgid=18855493
April 17th, 2003
<<How the hell do you find time to research all these stocks in all these different countries?>>
Research? That is too much work and I do not have the time.
I dispense with research, only reading the on-line company description, check the 1 year chart, have a sense of what was happening in the country, and edge myself into a stake, wait and see, add some more, wait and see, watch the crowds gather (increasingly positive news reports on macro and/or company) add some more, hold fire, and then exit as the thunderous herd rush in.
I could have researched the iDotComs and eSlashNets exhaustively by reading the 10, 20, 94, 253 page reports that was passed around not so very long ago, and ended up broke, feeling completely not well;0)
I do read the annual reports (and not just the pretty pictures) when watching over a small stake or contemplating a larger position>>
I hope you will start to enjoy the perpetual cocktail party that is BBR and stop being so grumpy. Cheer up, be optimistic, everything will work out just fine, if you buy gold based assets;0)
Chugs, Jay |
