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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (6691)	9/10/1999 3:22:00 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 12475

Well, his writing style is nice. That's for sure. And I have always liked James Grant's writing style too, not to mention his sartorial tastes! However, I realize that I cannot allow it to drive me out of the stock-market either. So, I fashion my own investment philosophy in such a way that I take care not to join the crowd. For instance, my stock portfolio is almost entirely made up of stocks that pay a dividend and have been consistently increasing their dividends for 15, 20, 30 years or even longer. This runs counter to the feeling among the crowd that dividends are an inefficient way to make profits because they are taxed as income. They think that making money by the capital gains route is better, thereby assuming that capital gains are a given. I don't make any assumptions. For me, the return of my money is at least as important as the return on my money. As Warren Buffett says, any investment in a business has to be looked upon as ownership of a piece of that business. I agree with him but the crowd doesn't. They think that stocks are just pieces of paper that you can sell to another guy for a higher price. I feel comfortable not running with them. But at the same time, I don't want to run with the perma bears, who are predicting gloom and doom around every corner of the road. I am quite content ploughing my own course through this market.