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Strategies & Market Trends : Value Investing

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To: Jurgis Bekepuris who wrote (46618)	2/16/2012 11:18:07 AM
From: Paul Senior	Read Replies (2) of 78751

The examples of companies failing to live up to expectations include several tech stocks. Maybe that would be an area to avoid. Some of the failed stocks seem to have provided clues to dispassionate stockholders that going forward their companies would have difficulties in the marketplace. For example, the effect of digital photography on Kodak's business built gradually, and there was time for Kodak stockholders to reassess their predictions of Kodak's future. I presume Mr. Spooner, being a rational person, would of course occasionally reassess his long-term estimates for his "stock for life". You mention a time frame of 15 years. If you look at JNJ as a lifetime stock over twenty years, a ltb&h person would seem to have done okay, maybe better after reinvesting dividends. "Okay" being a relative term finance.yahoo.com^GSPC&c=^IXIC&c=^DJI You seem to have added another criterion: "attractively priced". I don't know if any of these stocks are attractive on a price basis at this time. In my case, I expect I did not find any of them attractive when I looked at them 30 or more years ago. They didn't seem to be values to me. Then though, I wasn't interested in buying a "lifetime" stock, so I didn't consider paying up for such. At this point my lifetime stock of choice is Nestle (NSRGY). Chevron (CVX) as a second. Maybe Diageo (DEO) a third. I expect I'll be holding on to all three (I only have a very few shares of DEO though). Exxon (XOM) has been discussed here as a ltb&h stock. (I've no shares) People with no real interest in the stock market have gotten rich over time by holding one or another utility stocks for 30 or 40 years. I give you your point: "It's not as simple as Buffett-Spooner-concentrated portfolio proponents try to make it sound." I don't conclude though that this method of investing should be avoided.

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