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Strategies & Market Trends : Value Investing

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To: Jurgis Bekepuris who wrote (33816)	3/17/2009 8:18:23 AM
From: MCsweet	2 Recommendations Read Replies (1) of 78958

In a prior life, I worked on using real option theory to hedge the value of assets such as power plants and gas transportation, so I think I know a little bit about options. I am not simply parroting common knowledge, and I resent your implication. I didn't say Buffett was wrong. I said he took a speculative position, and I am right, he did. The odds probably looked quite attractive, and I might easily have taken a similar position myself in his shoes, but it is still a speculative position. Describe to me how, according to the definition of Benjamin Graham (father of value investing, since we are on a value board) would call this anything other than a speculative "investment". MC

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