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

To: Madharry who wrote (19074)	4/10/2004 10:13:03 AM
From: TimbaBear	Respond to of 78702

MadHarry I don't see the conflict between the two statements. If "huge profits" are made if money is invested when P/E ratios are low, and now one is putting money to work when P/E ratios are high, it seems to follow that one might expect less return, and perhaps even negative returns if the P/E multiples contract. I'm still of the belief that there is money to be made in any market, if one is positioned to properly exploit the opportunities. Value wears lots of disguises. Timba

To: Madharry who wrote (19074)	4/11/2004 10:10:05 AM
From: Dale Baker	Respond to of 78702

My approach to investing is company by company. I ignore average returns and average PEs and what you should expect "the market" to give you in profits in a given set of economic circumstances. I don't invest in the US market indexes. I rarely buy index-related stocks. I don't believe most people can beat the markets by playing the markets. I think you have to look under Wall Street's radar to find unloved, unwanted values. But that's just me. I don't have to invest billions of dollars, just modest amounts for myself and a few clients. I can get away with stuff they can't.