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

To: MCsweet who wrote (19172)	5/2/2004 6:08:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 78537

Buffett always has said wait for the right pitch. He has also talked in the context of 20 such pitches in a lifetime of investing. That means one every 1 1/2 to 2 years. That is my standard. I don't give a cr*p what the overall market is doing. I look for that one every two year idea, that really appeals to me and is worth investing a meaningful amount of money into. I also look at it as a long term investment in the company and will do nothing as long as the company performs to expectations and does not get ludicrously overvalued (sell some) or undervalued (buy some more). My style is to buy a XICO between 1994 and 2002 various times with an average cost under $3, sell a little here and there and write some calls, and finally get an exit strategy handed up by ISIL in a buyout near $15.