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

To: Paul Senior who wrote (31408)	7/8/2008 2:04:05 PM
From: Jurgis Bekepuris	Read Replies (2) \| Respond to of 78652

Quote: ---------- There are five bullet points that must be satisfied for us to take a concentrated position in a stock. First, it must have a macro tail wind. That means some trend such as demographics, geography or monetary policy must be working in its favor. Second, it must have an industry tail wind. That can be a structural change in the stock's industry. That may take the form of reversing 20 years of under-investment in extracting raw materials. Or it may be some secular change like the Internet competing with traditional media. Or it can be the battle between mobile handsets and landline phones. IBD: Are any bullet points company-specific? Gilchrist: No. 3 is. That can involve having a better product or management team. It can be something that lets a company take better advantage of points No. 1 and 2 to gain market share, grow faster than the economy or better than its industry. No. 4 is a change factor at the company. No. 5 is something that is misunderstood or not appreciated by the market -- something everyone else is missing. -------------------- I wonder if there is ANY company in his portfolio that satisfies ALL 5 points. ;) I'd like to hear his 5 point justification for MA and SKS. ;) Or - what the heck - for any company he mentioned. ;)