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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (23563)	3/21/2006 2:00:46 AM
From: Paul Senior	Read Replies (2) of 78748

Yes, Madharry. I've got "Margin of Safety" -- packed away in my garage. Wasn't impressed with the book. My summary conclusion is that there's so much risk involved with stocks- risk that people don't consider - that if they did, they almost wouldn't invest. As a balance of risk vs. reward, because the focus seemed unrelenting on risk, it was a somewhat discouraging discourse to read. I suspect plenty of investors try to follow his Baupost picks. I've looked at them when I could find them, didn't understand the value propositions of several (some so esoteric they didn't trade much or financial data was difficult to find), but I eventually bought a couple... and had no success. Perhaps it was timing: I bought too late or I bought common when he bought preferred, or I didn't hold on long enough or held too long. (I give him the benefit of assuming that these stocks I did look at did work out okay for him.) I don't understand the demand for the book. Imo, many better books out there for all levels of value investing. I'll retrieve the book and relook.

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