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

To: Paul Senior who wrote (51808)	6/29/2013 10:43:23 PM
From: paulelgin	Read Replies (1) \| Respond to of 78748

The question that needs to be answered once and for all is what constitutes an appropriate topic to be discussed on this board? I would argue that options should be included in a value discussion - and many value "authorities" (Klarman, Carret, Greenblatt, Cornwall Capital) agree with me. Carret explicitly listed LEAPs in his twelve investment precepts: "12) - Set aside a moderate proportion of available funds for the purchase of long-term options on stocks of promising companies whenever available." This comes from The Art of Speculation, 1930 - his early work on value investing. I won't rehash Klarman, or Greenblatt, or Cornwall. The fact remains, individuals that wish to discuss options are currently not allowed to do so on this board, and I believe they should be. Our definition of value should be expanded to include mispriced/undervalued options.

To: Paul Senior who wrote (51808)	6/29/2013 10:48:56 PM
From: paulelgin	2 Recommendations Recommended By Spekulatius Wowzer Respond to of 78748

As far as "expertise" and "time" - we all have the capabilities to evaluate investments across asset classes. Sure, the big boys have large staffs, but we are just as capable as any of them. We're all intelligent human beings, with access to information - be that in our local real estate markets (ever been to a sheriff's sale?) or watching the price of gold drop like a rock. All it takes is the curiosity to explore the available investment landscape. Rigid silos (stocks only; or, bonds only; or, real estate only) force us to make poor investment decisions within overheated markets, when bargains may be found elsewhere, if we allow ourselves the freedom to look for investments outside of a single asset class.