Obviously, the people at valueinvestors were not familiar with your good stockpicking record, jeffrey bash! (And I don't just mean as regards FARO.)
I like valueinvestors club because there are a number of stocks presented, and sometimes there are timely calls (which could be related the two-month delay). Sometimes there seems to me to be internet scuttlebutt about certain value stocks where a general buzz occurs and then the stocks move up. I have the feeling that some of these stocks are talked about here with nothing happening, but when they are mentioned on valueinvestors, that's when the buzz becomes strong.
I agree that so many of the valueinvestors ideas are obscure. For the people posting these ideas, they have done detailed analysis and seem to have made careful decisions about their recommendations. I would expect their recommendations to do well---for them. It's my opinion though, that for readers of the recommendations, it's more difficult. There's lots of analytical stuff to wade through on each selection, there are lots of selections, and for most people who have to have lots of supporting data and certainty in order to make a buy for their concentrated portfolios, it becomes tough to select from among the recommendations presented. (OTOH, of course, if just one good selection is made by the reader, that might make up for all the wading and cogitation one has to do to get to that particular selection.)
We have seen on this thread how difficult it is to get three or more people to agree (buy) the same stock. I assume valueinvestors believes that if members are limited to their best ideas and have to document them THOROUGHLY, that might aid readers in selecting from among the writers' picks. But that doesn't work either (imo).
FARO is an example.
We know from your posts here you like to become very, very familiar with all aspects of your stocks (i.e. the businesses and their prospects) and perhaps as a consequence, you have a concentrated portfolio. Your wonderful and best idea of FARO was hard to see here, and just as difficult for the detail-oriented types on valueinvestors.
I maintain the following:
Detailed write-ups don't really help convince readers to buy.
Best ideas don't generally turn out to be the stocks that perform best (with some exceptions of course -g- FARO). And contrawise (if that's the right term), stock ideas rejected as being poor (as measured by people's voting on the write-up) don't necessarily turn out to be poor investments. Even if rejected by other value investors, these stocks sometimes, maybe often, turn out to be among the better performers in one's portfolio.
Just my opinion based on my experience. Which is: I'm continually surprised by the stocks in my portfolios which perform really well. They usually are not from a category I'd call my best ideas. |
