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Strategies & Market Trends : Value Investing

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To: Shane M who wrote (56549)	1/3/2016 8:16:09 PM
From: Grommit	Read Replies (2) of 78774

I think another thing I've learned from reading many of the energy boards, is how "emotional" oil and energy is to so many of the investors there. There's almost a religious fervor about the topic. That informs to a degree my focus on sentiment to a large degree. yes. they selectively filter, read, and post. and with the reinforcing belief that you have superior knowledge, you overload your portfolio. i've been around this board for 10+ years. i recall when bury, clark, paul and others were looking for graham cigar butts. i've made a few strategic calls that might have gone the other way. I followed energy and peak oil. dabbled in a few oil sands. then, in 2005-6, when peak oil hit the front page of the new york times (for the 1st time) i went all in -- 25% to 30% of portfolio in oil sands. oil was $25-$30 a bbl. later, in the 2008 crash i found reit pref shares at $10 +/- and sold my other crap at a loss and and loaded up. bury has a claim to fame on bad mortgage debt. those were my best calls. as i said -- sector selection is more important than stock selection. i see no screaming opportunities now. maybe this is the time to load up on energy? maybe this is the time to hunker down for awhile longer?

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