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Politics : Ask Michael Burke
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To: Ilaine who wrote (38352)12/6/1998 2:53:00 PM
From: accountclosed  Read Replies (2) of 132070
 
Coby, one thing an investor can do is not look to the market to validate the value of one's holdings. MB can obviously speak for himself, but I think what he is saying about HAL is that he decides whether to buy it based on the value he sees in it and the price he can buy it at. That is not the same thing as predicting what the market will do.

It is sort of like ignoring peer pressure. The market is crazy at all times. If someone offers you 1.00 for your house, you chuckle and don't give it a second thought. If they offer you significantly more than what you value it at, you consider selling.

I mark my portfolio to market every day; always have. But that is not the same thing as assessing the value of my positions or the quality of my results.

I think people misunderstand what Mike says. I find him more reactive than predictive. And most listeners try to find prediction in everything he says.
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