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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: Freedom Fighter who wrote (368)6/7/1998 4:20:00 PM
From: porcupine --''''>  Read Replies (3) of 1722
 
This week in Barron's:

> From: WCrimi@aol.com
> Date: Sun, 7 Jun 1998 14:23:54 EDT
> To: gadr@nyct.net
> Subject: Barron's Articles

> Two excellent articles in Barrons this week.
> One on accounting gimmicks at
> Sunbeam ...

I agree. The prudent investor must not only analyze the
numbers, he or she must also make (in my opinion
partially subjective) judgments about whether or not to believe
management.

> ....and another about the U.S market called "Deserting the
> Bulls".

As you know, I am agnostic on most historically-based
statistical correlations.

I think the point you've made recently (was it on your Web
site?) about the price of a company tending toward the
replacement cost of capital sounds more intuitively
plausible, and is food for sober reflection.

Reynolds Russell
web.idirect.com
"There are no sure and easy paths to riches in Wall Street
or anywhere else." (Benjamin Graham)
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