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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (18436)	1/14/2004 9:11:11 AM
From: Rock	Read Replies (2) of 78670

Paul, I feel your pain on tracking the jockey and agree that the problem is not so much the buy (albeit difficult to buy enough to track ALL the good jockeys) but the sell. If you don't understand why you bought, you cannot very well understand why you should sell. The answer for me, and probably for most of us, has been to pay most attention to jockeys that select stocks that appeal to my personal sense of value. That is pretty obvious but gets tricky in a market like this one. To my sense of value, there are few stocks that appeal right now, which is crystalized for me when Jim Clarke (a favorite jockey) comes to the board looking for ideas. I'm just not attracted to most suggested stocks (including those on the safe and double lists) and the fight is to, as Sergio Leone once told Clint Eastwood, "[not] just do something but stand there". The temptation is to start chasing that which I do not understand (despite the excellent record of the various jockeys) and that's dangerous. A good pitch for one batter is not necessarily a good pitch for me and I'd rather be patient with my cash than chase. All that said, it's maddening to sit, bat on shoulder as the market rocks along.

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