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Strategies & Market Trends : Value Investing
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To: Jurgis Bekepuris who wrote (41278)1/30/2011 6:11:10 PM
From: Jim P.1 Recommendation  Read Replies (1) of 78625
 
Waiting for the right basket is what is difficult if it is your only investing style.
I have difficulty being even close to 100% cash which would be required if you had not found the right basket.
It takes a ton of effort IMO to really research a company better than the analyst following it to the point that you can see out a few years with confidence that the value is discounted too far.
That for me rules out real complicated companies and markets. I am just not smart enough. I decided a few years ago to focus on energy production, transportation, fractionation, distribution and suppliers. The markets for NGL's, crude oil, and gas are just as important as reservoir characteristics and emerging technologies to the long-term value in the entities that have a choke point on the assets.
The home-work has been interesting and fun which is a key part if you want to attempt the few basket strategy.
Jim
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