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Strategies & Market Trends : Value Investing
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From: Graham Osborn1/26/2018 10:39:28 AM
3 Recommendations

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geoffrey Wren
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Looks like the Shiller PE is now 35 up from 30 in Q4 last year - only 3 years in the past 100 it was that high. Maybe the rules have changed - or maybe people have just done their usual trick of forgetting the rules. Waiting for lower prices on 3 stocks that still interest me, otherwise in a holding pattern the past 3 months or so. I feel like if the market is really as high as it seems to be then even an intermediate correction could be of sufficient amplitude to create some opportunity.

It's interesting how most of the value investors I follow probably agree totally on the macro picture, and then proceed to invest in companies with mediocre fundamentals trading at astronomical valuations. It's like the Christians have become the anti-Christians. There's nothing that annoys me more than seeing managers parrot back some of Buffett's catechisms as a bumper sticker for an investment strategy that is guaranteed to blow up sooner or later. At a CAPE of 35, each and every one of us is a fool until proven otherwise.

By definition, value investing cannot be popular. Maybe we should rename the thread "Uncool Investing." :)
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