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Strategies & Market Trends : Value Investing

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To: Investor2 who wrote (59627)	7/14/2017 11:45:53 AM
From: William Cloutier	Read Replies (1) of 78487

I was rethinking about this and I think a good habit to develop is to dig deeper when you find something complex. Like Michael Burry who grab prospectus of MBS back in 2004/2005 and just try to understand them. We can also guess that buffett, when he was young, didn't understand all companies he came across (today it's tech companies). It's a "test" for all investor/speculator and I think the way we face this test explains many results and behaviors. So we can make decisions without a clear understanding and speculate (it can be a wise spec. or a dumb one) or try to dissect a company before taking an ownership in it. The option #2 is representative of a businessman minded investor and, for value investor, a clear understanding of a company gears is essential to find hidden value. Maybe working on JPM historical financial statements (or any other bank) can be a valuable learning experience. Even if it's about as exciting as watching paint dry. Hope you understand my writing :) Will

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