Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Graham Osborn who wrote (56088)

9/25/2015 1:00:34 PM

From: Spekulatius

1 Recommendation

Recommended By
Jurgis Bekepuris

Read Replies (3) | Respond to of 78816

Wow, James is older than I expected

Or looks older ?<g>.

I was on SI but not participating in this thread n it's early days. I was mostly following Biotechs, and playing the tail end of the telecom boo,, somewhat successfully. I know I had an epiphany when I calculated the average PE of my portfolio which was like -5x. it then occurred to me that I was doing something very risky.

I have always been a value investor at hard and bought my first stock (Mannesmann) when I was 14 years old. Now almost 35 years later, I feel like I know less than before and I am less confident that I can really beat the market than ever. So other than a great respect for Mr. Market, I don't know if I have learned a lot.

The late 90's and early 2000's years were really a golden age of value investing where you could dig out a lot of unappreciated value with FA. I feel that it's harder now and the market is more driven by macro and macro trends than FA. During the last 10 years, one could do very well just judging the macro, rather than picking individual stocks. I think there will be another time for stock picking (2009 was a brief period), but it does not seem that picking the right stocks is a strong driver for performance now, at least if you stick with the value investing approach.
I find myself being less involved in the market than I used to be and consequently post less. I try to let other folks do the work for me (LAACZ and BRK as well as Malone being examples) and trade less. Don't know if it's working but it for sure is less work. I hope that this thread survives and that we get fresh blood in here from time to time (Matt Monday are you reading this?) to get a broader participation and fresh perspectives.