Valuespec,
I'm becoming increasingly cynical. It seems there are very few people that have a clue about what is going on, and I fully agree with your comments that the "market is not effecient."
I was talking to my father, and he reminded me that I told him, "Not to buy CD at $6," and then I coorespondingly reminded him that I suggested he purchase CD after the SEC filings, when CD was between $7 and $8. This was a fundamentalists dream purchase.
Now, I was fully tapped out when CD was at its lows, because I had been buying on the way down. The current targets are probably correct based on valuations to about $24, but given the exhuberence it might be better to hold out a little longer. Besides, who wants to take the capital gains?
I've pretty much turned a nice profit on paper on all of my postions for the year and don't see any significant news to cause any precipitous drops, so, I will just drift off and forget about things in favor of the holidays.
I have been pretty consistent in racking up gains over the last couple of years and hold to the tenants of Phil Fisher, Graham, and Buffett.
The only place I've disagreed with your comments has been on the frequency of your trades, which, I still feel is a waste of energy, and would better be served with more research into the companies fundamentals. But, this is just a minor disagreement.
I've found your comments to be the most interesting and insightful on this thread, and it has provoked a lot of thought in some areas.
Anyway, I wish you all the best and good luck. It has been nice to watch the rise and recovery, that was anticipated and expected. I guess I have a right to feel smug, but I don't, I still have a lot to learn.
Have a happy holiday!
|
