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

To: Paul Senior who wrote (14260)	4/5/2002 12:30:54 PM
From: Brendan W	Read Replies (3) \| Respond to of 78717

hi, paul -- You say: "I have a dollar value that I'd like each of my portfolios to attain by year end." I sort of do the same thing but it's just rank greed/clinging/hoping. This seems foreign to value investing so I'm curious. How do you establish the target portfolio value? Why do you establish a target value? Do you base any decisions on variance around the target? Passsing on CWT. If the normalized operating cash flow is even $1.50, that yields only 6.5%. On the quick, I couldn't figure out a way to expect growth with any confidence. I still like the idea of owning water service companies, though. Which I don't.

To: Paul Senior who wrote (14260)	4/6/2002 12:23:28 AM
From: James Clarke	Read Replies (1) \| Respond to of 78717

Thanks Paul for the insights into the secrets of the Bat Cave. You practice value investing in a very different way than I do, but that doesn't mean that your way is less disciplined or less profitable. Graham advocated a diversified portfolio where you will inevitably have some losers, though I treat every stock as one that I do not want to take the risk of losing money on - thats probably overly conservative in managing a diversified portfolio but it works for me. (COV nailed me too - I had sailed through a bear market with a 65 stock institutional portfolio with nothing down more than 50% until that one.)