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Strategies & Market Trends : Value Investing

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To: Scott Mc who wrote (3973)	5/2/1998 12:35:00 AM
From: James Clarke	Read Replies (1) of 78817

Hyde boring? Yeah, snooze all the way to the bank. Actually I find nothing boring about a net-net. The mere fact that one can exist in today's (well, yesterday's) market just fascinates me. One of the important lessons of Peter Lynch's books is that boring is good. It is just so hard to hold these stocks for the period it takes for the payoff when you are constantly bombarded with new and exciting ideas. I found a way to do that which works for me. I honestly get excited about a business precisely because it is boring. Read Lynch and you'll see what I mean, but its got to be intuitive. Looking back, I have lost money on exciting businesses but my biggest winners have been the most boring mundane stories. Hint for St. Joe fans - when they get exciting, sell them. You want to talk boring? I am visiting a company in Portland next week that produces steel pipe. Large diameter steel pipe, small diameter steel pipe...even medium diameter steel pipe. I can't think of a more boring business. Northwest Pipe - it even has a boring name. That tells me its worth a look, because I doubt if many other people are looking. I'll just have to juice myself with caffeine before the meeting. Jim

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