Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: shades who wrote (65894)	7/3/2005 11:31:36 PM
From: Moominoid	Read Replies (1) of 74559

There used to be a good discussion on Yahoo about Looksmart. A stock I made a pile of money in by trading it. I don't believe I know how to pick stocks for good long term investments. People closer to the market investing more effort are going to do better. I can see dumb investments easily though :) But occasionally something comes along that is obviously undervalued and worth buying. I tried to pick tocks before and somethimes I did well and sometimes not. So my strategy is to pick fund managers whose philosophies I agree with and invest with them. And then to use my effort where I think I have an edge which is technical analysis and broad macro timing. And it is good that most economists don't believe in TA and that most mutual funds just have to remain fully invested.... I have no idea whether GOOG will be a highly successful company in the long-run, blowup, or gradually wither away. But I can see the opportunities to trade the chart I think and all the true believers buying up stock from the institutions (probably hedge funds shorting) are a big help :) Well this is a real time experiment and we will see the results of my supposed stupidity. Right now actually I identified an undervalued microcap in Aus that is actually an investment firm more like a private equity/VP outfit but listed on the ASX. Selling at a big discount to book. I noticed them because they today invested in another fund manager who I have been following and thinking about investing in. I met the CEO of that firm not long before I left Aus. He gave a presentation that I attended. I even sent him a job application letter :) He has turned into a big Buffett believer. Actually the Aussie market is less efficient than the US one and active fund managers do better relative to the index than in the US.

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