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

To: Paul Senior who wrote (18436)	1/14/2004 1:23:10 AM
From: Spekulatius	Read Replies (1) \| Respond to of 78672

Paul, you are not alone with your gripes. And I say that even though I did some plays myself, like TVIN.OB and currently CHAR.OB. There are a few players with a very similar style who are successful with a blend of more of less thorough fundamental analysis and momentum based speculation. Weather that approach works for an extended time I do not really know - at know at least one of the players from the telecom heydays, so he has not retired since then. I also think that for the followers, the returns are more likely much less, as the thin market leads to sharply rising prices. I also can say that when their analysis covers an area where i have technical expertise i have been usually not all that much impressed, which cautions me to be very careful. That aside, i think they clearly are doing something right, so I try to learn and play this game with a small part of my trading portfolio when the risk/reward ratio seems favorable.

To: Paul Senior who wrote (18436)	1/14/2004 9:11:11 AM
From: Rock	Read Replies (2) \| Respond to of 78672

Paul, I feel your pain on tracking the jockey and agree that the problem is not so much the buy (albeit difficult to buy enough to track ALL the good jockeys) but the sell. If you don't understand why you bought, you cannot very well understand why you should sell. The answer for me, and probably for most of us, has been to pay most attention to jockeys that select stocks that appeal to my personal sense of value. That is pretty obvious but gets tricky in a market like this one. To my sense of value, there are few stocks that appeal right now, which is crystalized for me when Jim Clarke (a favorite jockey) comes to the board looking for ideas. I'm just not attracted to most suggested stocks (including those on the safe and double lists) and the fight is to, as Sergio Leone once told Clint Eastwood, "[not] just do something but stand there". The temptation is to start chasing that which I do not understand (despite the excellent record of the various jockeys) and that's dangerous. A good pitch for one batter is not necessarily a good pitch for me and I'd rather be patient with my cash than chase. All that said, it's maddening to sit, bat on shoulder as the market rocks along.