I am familiar with Wm. O'Neil's methods. His, is among many in skinning the cat. All work to some effect, more so in certain times than other times, but, all have their usefulness. From Bernard Baruch, to Graham and Dodd, to Fischer and Soros, and now earnest contemporaries, O'Neil, Cohen, et. al. All have contributed enormously in their times, but most are victims of their times as well. The times we are entering I believe will favor the methods of Dreman, Rainwater, Gabelli, and the opinions of Martin Feldstein, and the "Chicago School," once again.
You have discovered the evidence for my own assumptions about the convergence in the body of your own reply. Indeed, companies are living organisms whose body of direction changes with the food it is sustained by, ergo: management, and its further influence among all involved in the enterprise. The direction at HD's primary competitor is changed: the animal acts in a manner unfamiliar to an observer from its recent past.
I think if one is to look for significant value in a related industry to HD, opportunity abounds in investment trusts that derive income from aggregating, and supplying apartment dwellings here in the States.
Terrence |
