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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: seminole who wrote (27)	3/3/1998 6:01:00 PM
From: porcupine --''''>	Respond to of 1722

<< I must of missed this in Graham and Dodd's book. >> What you have missed is the whole point of our undertaking. We are not doing Security Analysis for the Market of 1934. We are attempting to identify mispricings between Intrinsic Value and Market prices in the current Market. "The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must be adapted to significant changes in the financial mechanisms and climate." (Benjamin Graham) porc --'''':>

To: seminole who wrote (27)	3/3/1998 8:53:00 PM
From: porcupine --''''>	Read Replies (3) \| Respond to of 1722

Part 2: << I must of [sic] missed this in Graham and Dodd's book. >> The Intelligent Investor contains much fundamental analysis on the Market, taken as an aggregate. See, for example, p. 195. Among other reasons, Graham saw these aggregate Market valuations as an indication of the relative attractiveness of bonds. Reynolds Russell web.idirect.com "There are no sure and easy paths to riches in Wall Street or anywhere else" (Benjamin Graham)