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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (45154)	10/27/2011 11:49:41 PM
From: Spekulatius	Read Replies (2) of 78667

I had my biggest sales day since September 2008 (on hat infamous rally after the shorting ban was annouced). Sold out GLW, FWLT, Vale, MRO, some ADM 1/2of RGA (I want to avoid insurance companies with long tail exposure) and the remaining stub of JNS. I am mostly in cash now in my IRA and 50%+ in my taxable accounts. I find myself more more trading the sentiment rather than valuations, it's a crazy world out there where a stock can move in value by 20%+ without any change in fundamentals or news. I agree with Jurgis that stocks are not expensive here but it seems to me that all these buyers and sellers have no conviction whatsoever and just try to outrun the rest (sell before the others do when bad news hit) so they don't get stuck in loosing positions in a 2008 like downward spiral. This is actually a game where we small guys can outplay the big investors because our sales or buys don't move markets. What tomorrow brings, I don't know, but as far as I am concerned, I could call this year done for me and just close the books. I doubt this will happen though...

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