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

To: schzammm who wrote (21778)	7/26/2005 10:55:45 PM
From: Paul Senior	Read Replies (3) \| Respond to of 78666

schzammm. Well, what ever you're doing is beyond my understanding. Your profile says you're retired. You say you trade "large positions". What the hell for? I see life this way: Where ever you are at retirement, that's where you are. If you've got x hundreds of thousands and now believe you need 5x more or millions more, it's too late. I'm against beating up x hundreds to force it to achieve 4x, 5x, 10x more. And trading large seems to me to be doing this - beating up on the portfolio. Otoh, I'm conflicted because I am trading small but a lot. (Not so much buying and selling, but buying and buying) "Averaging down is not one of my favorite strategies." Well you're not the only one who feels that discomfort -g-. Who likes to be put more money in a "losing" situation? I certainly don't. But it works for me. (Sometimes. Not with GTI now, not with YBTVA, and I've got some - several - that've gone right into bankruptcy. OTOH, I posted on PHS - and I could mention more. Buffett and Munger from what I can tell say if you're going to be eating hamburgers all your life you want to buy the meat as cheap as you can when you can.) I usually believe that whenever any position is undertaken, the investor (speculator) ought to have in mind beforehand whether he/she will average down if the stock falls (if one doesn't exit the position) or will pyramid up as the stock rises. I am generally an average-down buyer. In the oil sector, where it's difficult for me to ascertain value, I am an average-up investor (speculator). This all just my opinion. Strong opinion -g- . Not disparaging you - you have many years of investment experience. I wouldn't be surprised that if we compare investing records that you are far ahead of not only me, but maybe the guys here who are good investors. I keep being told/taught this same investing lesson: There are MANY ways to investing success. I seem to keep fighting that. I am looking for a normative method - what is the best way for the majority of people to be successful in the stock market? I say your way is not that way. But I know diddly, and if I offer any alternative I can't properly back it up with facts. I'm just another guy with an opinion. (sigh)