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

To: Michael Burry who wrote (9748)	1/26/2000 11:00:00 AM
From: James Clarke	Read Replies (2) \| Respond to of 78485

On the question of how selective to be with net-nets, lets consider what Graham said on the subject. "on the whole these stocks [net-nets] afford profitable opportunities for purchase. Nevertheless, the securities analyst should exercise as much discrimination as possible in the choice of issues falling within this category. He will lean toward those for which he sees a fairly imminent prospect of some one of the favorable developments listed above. Or else he will be partial to such as reveal other atractive statistical features, e.g satisfactory current earnings and dividends, or a high average earning power in the past. The analyst will avoid issues which have been losing their quick assets at a rapid rate and show no definite signs of ceasing to do so." Security Analysis (1934 edition), p. 503