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

To: TwoBear who wrote (11699)	1/4/2001 12:50:16 AM
From: Paul Senior	Respond to of 78567

TwoBear, re. 3 buys, BAMM. Yes, I'd rather just work with this year's ideas because it'll put us all - old timers and new posters, on an equal footing. For me, it's not a matter of who's got good ideas vs. who's ideas aren't so good, it's more about the number three. Since each person sees value differently - and some of us even quite differently, my explanation or justification for the success of 3 buys has been that if three different value investors look at a company and come to independent conclusions that the stock is a buy and then so state that they've bought, then there must (assumption!!) be enough value, enough margin of safety so that the value is there from whatever corner you look at it. (It's just a theory!) When I did up my original tally, it seems, if I can recall correctly, that there were only one or two companies that four or more people on the thread said they were buying.(WHX was one, and perhaps it was also one of the Ag. equip companies being another --fwiw, they worked out well imo.) But it was not enough of a sample for me to be comfortable with (or for me to wait around to get four people here to agree about -g-). --------- I'm somewhat puzzled as to my own reaction to BAMM. If we've got 3 people here saying it's a buy, then imo, it's a buy. And several more people here are buying. Okay, but... we've now got a much higher number than 4 who are buying - a higher number than I can recall for any other stock mentioned here in quite a while. I'm just hoping on BAMM that we're not all feeding off each other and maybe each other's enthusiasm, and just getting sucked into this thing. Or maybe it's just that I'm suspicious that I myself am getting sucked deeper into this thing than I ought to be (I've bought more). Paul.