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

To: Paul Senior who wrote (58962)	1/24/2017 12:24:15 PM
From: Graham Osborn	Read Replies (1) \| Respond to of 78750

Paul, you haven't explained why USNU is a business that I shouldn't like to own. Customer loyalty is unquestioned because the whole system is installed in the hospital's basement - it ain't going anywhere and they are locked in for many years. For SAFM, the capital replacement cost is the issue. When I am wrong about the fundamental economics of a business I will sell immediately - no departure from Buffett there. My approach has changed a lot over the past few years, so I wouldn't be surprised if half of you think I am crazy. I think of learning to invest as like learning to program a computer, except that the consequences of ones decisions are stretched out over a period of years. One can avoid many errors by reading, but young people are still known to make them from time to time. What I am doing now is very similar to what Buffett was doing in his early 20s. I'm perfectly willing to hear your objective arguments on why it is a poor approach for someone who cares nothing for market volatility and looks only at fundamentals. As a retiree, I get that you don't like volatility and therefore feel the need to own 100s of stocks you've never even read filings for. You are right, we are on different planes. I won't kick the beehive further on this particular discussion, but hopefully it was educational for others :)