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

To: Paul Senior who wrote (17851)	10/12/2003 12:21:03 PM
From: TimbaBear	Respond to of 78497

Paul Senior I looked at all those stocks back then that you mentioned, and missed every one. Oops. Well, I did buy a few of those and made some money overall. I own none of them now and missed the lion's share of the biggest up moves. For me, it was a combination of not having faith in my methodology (which, in part, was justified) and not being mature enough in my thinking, and being very gun-shy after having come out of 2000 as badly battered as I was. I have improved upon my methodology and have a lot more confidence in it; have evolved a bit more in my investment patience; and have nicely surpassed the 1999 highs in my portfolio values which has done wonders for helping me grow past the "gun-shy-ness". I am trading far less and insisting on more margin of safety on entry. Interestingly, though, I find my exit criteria has become a bit more fungible on successes. Not because I don't want to sell winners, but because if the business model is sound and still growing, I don't care as much about the price outrunning those fundamentals occasionally. TRCI is a case in point. I still own it, although in the short term, its price is higher in comparison to its cash flow than I would insist on for a new entry. And for some of my own picks, I see how I overlooked facts or situations that subsequently got me in trouble. Hindsight, when its 20/20 is very valuable to me too. It's amazing how often though my hindsight is not as clear as I would hope for. In this arena, it does seem as though all of the lessons are pricey so the hind vision eventually clears up when the price paid reaches a certain pain threshold. I'm not always a quick learner it seems. ...and it's gratifying to see those turn out just as I hoped they might when I posted on them. Yes it is! It's amazing how quickly my ego takes credit for it too! <ggggg> "Humble and Proud of it!!!!" Timba