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

To: Nya_Quy who wrote (62896)	11/21/2019 9:35:15 AM
From: Jurgis Bekepuris	3 Recommendations Recommended By E_K_S pak73 Spekulatius Read Replies (1) \| Respond to of 78670

1. How and when did you discover (Value) Investing as a discipline and what was your first impression of it? 1995 or so. I don't remember first impression. It made sense I think. 2. How has your investment style changed over the years and who and/or what influenced you the most? I pretty much moved to buy great companies and hold forever camp. No cigar butt, average co investing. Some special situations. 3. If there was one piece of (investment) advise you could give to your younger self, what would it be? Buy BRK and spend time on something more productive. Even better: buy GOOGL and spend time on something more productive. There's 99%+ chance you won't outperform indexes. Most people don't, even very smart people who do great analysis.

To: Nya_Quy who wrote (62896)	11/21/2019 10:58:57 AM
From: Paul Senior	3 Recommendations Recommended By E_K_S OldAIMGuy Spekulatius Read Replies (2) \| Respond to of 78670

1. I read the Intelligent Investor in 1973 and it resonated with me. I read articles about Buffet/Graham before that also. 2. My investment style is still evolving. Mainly it involves how long I will hold a winning or losing stock and how much I will invest in a particular stock. About trading around a position or not. About asking myself why I am still in the market and taking risks -- I'm old, and about money I'm in the disbursement phase, not the acquisition phase (have more money than I need or spend - as of today anyway). 3. Most influence is Al Frank of Prudent Speculator. Possibly Graham in past. Took some ideas for my metrics from others - 48 Years in the Stock Market (Jarvinen), Valuing Common Stock (Lasry), et. al (books out of print). Now maybe Pabrai and Bobby Edgerton. I'm not a Buffet fan. 4. Read the books/articles by John Train. If you are going to invest, READ his Womack article!! Any interview article with Bobby Edgerton is good. Forget about reading Graham's boring Security Analysis (unless maybe you're a financial analyst type). Don't trade theoretically: use real money. Try everything -- you'll soon learn if put/calls, margin, long-term holding, etc. are for you.

To: Nya_Quy who wrote (62896)	11/22/2019 4:59:56 PM
From: Spekulatius	3 Recommendations Recommended By John Koligman OldAIMGuy Sisyphus Respond to of 78670

1) I think I was pretty much born with the value bug. Nobody had to explain it to me. My first investment was a gold coin in 1979. My first “stock” investment was a warrant for BASF in early 1982. I hAve been investing every since, first with small sums while in school, then with larger sums later. 2) I believe the writings of Greenblatt (The little book that beats the market) were quite influential. I also found Graham’s teaching of “Mr Market”, margin of safety, Warren/Buffets concept of moats, circle of competence were very influential for me. I believe my main change of the last few years has been from looking primarily at quantitative to more appreciating qualitative factors, I have also more tilted towards quality.. 3) I wish I had gravitated to higher quality stocks earlier.