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

To: Madharry who wrote (31367)	7/3/2008 4:05:52 PM
From: Cogito Ergo Sum	Respond to of 78485

makes me think I need to be much more rigorous in my own review of information and no longer relying that a position is vetted because a respected value guy owns it The journey of a thousand miles begins with the first step :o) I'm past that one finally ... Now... I'm trying to figure out capital preservation. Still having trouble keeping what I make ... Had a good entry on SU yesterday PM (ooops)http://siliconinvestor.com/readmsg.aspx?msgid=24725054 .. dumped it on the morning pop to add to my LT PWT.UN (PWE for you guys) holding but that entry was only halfway off the bottom... I was frankly surprised it got smacked so hard.. spent some time staring like a deer in the headlights... The Black Swan

To: Madharry who wrote (31367)	7/3/2008 4:50:22 PM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78485

Some of the things value guys got wrong, but for most of them (not counting Countrywide and Bear) the jury is really out. It is quite possible that Miller and Marty and Buffett will make huge returns in coming 5 years on their current positions. Judging their performance by 6 months to 1 year holdings is really not smart. MOST of value plays go down after they are bought, since no one is so smart as to catch the bottom. Let's revisit this in 5 years and see then which investments were great and which ones were foolish. Of course there is always a risk of a take-under for undervalued investments and there is also always a risk of BK. Unfortunately for financials both of these risks are very real, as we see so far.