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

To: Paul Senior who wrote (57655)	7/31/2016 12:11:45 PM
From: Graham Osborn	Read Replies (1) \| Respond to of 78712

I don't think my scuttlebutt on GOOGL gave me any special edge. These sorts of stories are just observation bias IMO - for every person with a family member working at AAPL or GOOGL, there's another with a family member working at M, KMI, etc. Warren used to have a cow when family/ friends asked him to invest in some tech company - now he owns IBM and AAPL and look how they've done lol - better to have bought them the first time around, but his point was you just don't know. I did own some GOOGL in late 2014 but sold it buy something I wanted more - TGA I think. I didn't regret the decision in the short term, but if I had held until now of course the former would have worked out better. I guess it isn't surprising that people don't resonate with my macro views here - it is after all a value thread and the conventional view of Graham is that his approach somehow abdicated the need for macro awareness (he does in fact say "purchase of undervalued securities in a high market is likely to result in loss" in Security Analysis paraphrased). I'll take my whipping and dial back that discussion to avoid further arguments. I just like to be thorough.