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

To: Paul Senior who wrote (3190)	2/10/1998 12:07:00 PM
From: Honest Abe	Read Replies (2) \| Respond to of 78579

"In a market downturn, Buffett mutual funds will go down yes. Those funds are composed of individual stocks - they will go down too. Either way, stocks go down and you lose - unless - based on recent 20 years or so past - you hold on to fund or stock." I did not imply that the mutual fund would not rise and fall with the market. I was referring to the tax implications of a mutual fund being forced to sell because of investors or the market, but not because of the stock itself. This is irrational behavior and I see no reason why I should subject myself to it. "My opinion is - from the nature of the question you first posed to the thread - YOU are not prepared (yet)to beat Buffett or mutual funds." I would appreciate a clarification of what I said that was so green or ignorant to warrant this statement. "What you bring to the party for me is this: a glimmer or idea that perhaps (just perhaps) everyone who is trying to follow Buffett is starting from the premise that what's needed is a proper screen to select stocks with certain attributes so that further investigation could be undertaken on such a subset. " Once again, a miscommunication. First, I am in no way trying to speak for 'everyone who is trying to follow Buffett'. My ideas on how to invest like him are solely mine. Second, I did not mean to imply anything about a stock screen. We will set up spreadsheets that will aid in the financial analysis of a company, as I'm sure in this day and age even Graham would have. There are no plans for screening financial attributes to narrow down the list. You must pick the stock first, and then see if the price is right. No screen can do that for you. I may have misunderstood the object of the group - Value Investing. I know the first post mentions Graham, but since Buffett is Graham's most famous disciple, is it wrong to bring his methods into the group? Respectfully, Honest