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

To: jeffbas who wrote (20185)	12/8/2004 3:24:35 PM
From: Bob Rudd	Read Replies (1) \| Respond to of 78519

jeffrey bash: I agree with you that DCA is highly desirable in a tech investment. Unfortunately, it's rare and when it occurs the price usually reflects both the rarity and desirability of that quality. Nobody's going to take EBAY apart, but it's always looked way overpriced to drug-free value investors[other than Bill Miller]. Paying up for DCA requires foretelling how long the D remains durable. Forecasting technology is not something I am good at [or anyone else - See book, 'The Fortune Sellers']...and I'm under no illusion that monitoring news flow [or message boards] is going to give me an insiders insight. In fact the insiders often get it wrong. OTOH, I can sometimes recognize when something like OVTI is overdone to the downside, but once it recovers I'm out at the first whiff of bad news. These are always smallish positions, because hitting an AUO from time to time is inevitable.