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Strategies & Market Trends : Value Investing
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To: Dave who wrote (18504)1/21/2004 7:06:11 PM
From: Paul Senior  Read Replies (3) of 78958
 
Perhaps Mr. Buffett was talking about the process of investing.

Most investors have a way of distinguishing between value stocks and growth stocks.

Ben Graham advised against growth stock commitments where, "the excellent prospects are fully recognized in the market and already reflected in a current price-earnings of, say, higher than 20". (Intelligent Investor, p. 76)
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