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

To: Jurgis Bekepuris who wrote (32471)	10/15/2008 3:00:48 PM
From: Dale Baker	Read Replies (1) \| Respond to of 78666

The problem now is that my belief about company values is shifting with their revenues, earnings, demand and financing issues. Some "values" are much more apparent than real, or at least transitory. It's a much harder game than it looks to decide who will be earning enough to be a value now, looking out the next few quarters.

To: Jurgis Bekepuris who wrote (32471)	10/17/2008 10:30:16 AM
From: Steve Felix	Read Replies (1) \| Respond to of 78666

Jurgis Bekepuris - this is probably the best post I have read this week and I don't claim to be a value investor. "What market does or does not believe, does not matter. If we do not have our own beliefs about values of companies, we are not value investors. If we do not buy companies way below their intrinsic value, we are not value investors. Expecting that market will agree with you as a value investor is, sorry to say, a folly. If it did, the stock would not be at value price." The statement that it is different this time ALWAYS applies regardless if we are talking euphoria or despair. Like with the current hedge fund and retirement fund flushing, investor is a broad term used by many that are actually more concerned with short term performance.