Even more discouraging to me, GoodWitchOfTheWest -g-
Your argument here for buying or holding is that noted value people on SI or people with good track records on SI are buyers (or holders). And why are these people buyers? Hard for me to get the details because I can't sort on the letter "C" on SI, but in briefly looking at some "Citi" posts, the reason for buying seems to be that several professional investors have large stakes and/or that "loan quality has improved" or something about the price in a trading range. Or that Mr. Pandit says things will be better going forward.
It's just a little more than what my family members or circle of acquaintances can argue. Still no stated decent reason for it to be a value buy. No analysis by SI buyers that I see. As it appears to me on SI, it is just people following other people following other people.
Could work out very well nevertheless, for both traders or maybe also longer term holders (five years). And not that I won't take a chance on something similar (but something more quiet). LYG, for example. I'm calling it a speculation though, not a value buy.
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I view investing (different from speculating) as a process. If people can't or won't give a reason for a popular stock that makes any sense to me why they have concluded and believe the stock is a value, then to me, I move closer to seeing the buy as being less part of a process and more like an "everybody says, and I don't want to miss the opportunity (to trade or buy)" kind of thing. As I say, that makes me want to stay far away. |
