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To: Freedom Fighter who wrote (50829)3/17/2000 3:24:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 53903
 
Wayne, nothing wrong to be a value investor, Buffet has been one for a long time and had quite some success. On the other hand, in the last two years, it seems value investment have caused his folio to be halved, while the "stupid market" more than doubled. Larry has a point, the market is efficient, the unfortunate thing is that we don't find the reasoning for some specific set of valuation until it is too late (VBG). Thus some of us simply assume the market is smarter that we are and try to listen to what the market is telling us.

Good luck out there.

Zeev