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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (8336)	9/23/1999 5:08:00 PM
From: Q.	Read Replies (2) \| Respond to of 78847

MSFT's CFO said more or less the same thing a year or two ago. That put a momentary dent in MSFT stock price, which turned out to be nothing, really, compared to the subsequent humongous price rise. I don't own MSFT, but I'm skeptical about how lasting the impact of this statement will be. VIX, by the way, is once again back up to 30, which in recent months has been the level that marks a bottom. We'll see whether or not it holds this time.

To: James Clarke who wrote (8336)	9/23/1999 8:48:00 PM
From: Daniel Chisholm	Respond to of 78847

Might we on this board be embarrassed, for so recently considering that "Graham's criteria don't work anymore (i.e., nothing is that cheap), so we'll probably just have to pay more than the 2/3 net tangible assets he wrote about", especially if the market tanks Real Soon Now? Of course a fully invested Value Investor in stocks at 0.8X or 0.9X net tangible assets is not going to be nearly as "embarrassed" by a stock market crash as 99.44% of the rest, but still, it would be a shame to be without the firepower to take advantage of true deep deep discount bargains, should they offer themselves up. - Daniel