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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (19640)	9/3/2004 11:15:24 PM
From: Madharry	Read Replies (1) of 78717

I am still reading the Paulos book- He clearly and admittedly succumbed to a chase the loss mentality with Worldcom going into margin to do so. It seems like the worse way to get burned is to add to a losing position and then not admit soon enough that you were wrong and bail. that is why I am very careful (now!) before I add to a losing position. unfortuantely i did not add to tnt which had been moving up of late. I also read one of Prechter's book. He along with others make quite compelling arguments that if the market bottom is close at hand it would be unique from a historical perspective by standards of p/e, dividend , and book value. I know this is a bottoms up thread, but I dont see too many people talking about absolute value here and I think we should be. I think we are now seeing evidence that consumer spending is stalling but we dont see corporate capex increasing. I question buying into retailers and/or retail suppliers at this juncture. I see a lot more people in resale stores than in department stores right now. I wonder if any of you are looking at forest labs?

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