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

To: Chuzzlewit who wrote (3587)	3/22/1998 9:11:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 79000

Paul, I am just wondering why you are posting here? Most here, including me, so violently disagree with just about every statement you say. You obviously know this. I just don't even feel like it's worth my time to write the required essay in response to your statements. Most of the regular posters here are well aware of MPT and the flavors of EMT and have rejected it. I think you're looking for a different thread, unless you're looking for a pointless argument. As a tip, I would just say that posting unsubstantiated self-congratulatory statements will only perturb those of us that a)don't know you and b) haven't seen any prospective public record of your success. c) recognize many complete idiots are making a killing over the last 10 years It seems like everyone I talk to these days says, "I make 40%/year easy in stocks." Congrats to everyone. Good investing, Mike

To: Chuzzlewit who wrote (3587)	3/23/1998 12:58:00 AM
From: James Clarke	Respond to of 79000

Paul, I will confess to being one of those MBA-types value investors love to laugh at. We could discuss the theory of finance into the wee hours over a couple scotches, and I would tell you why I think its garbage, but this is not the place for that. Maybe if I told you about my biggest winner that would convince you? And if it wouldn't, why do you think anecdotal evidence would convince anybody here? My favorite question to ask candidates I interview is "Tell me about your biggest loser." You believe portfolio theory. I don't. I understand it, but I reject it. But if you do, then of course you understand that a monkey investing in high beta stocks would have outperformed the index for the last two years. The part of MPT that you're not talking about is that it applies in reverse. In a bear market you are going to get murdered with that strategy, unless there is much more to it than you are telling us. And if there is, I'm not sure if I want to hear it. As our fearless leader, founder, and all around good guy - Mike Burry - pointed out oh so politely, this is a value thread. If you look at past posts, it is intelligent talk about value stocks and value investing. No comments on the market's latest move, no hyping the latest IPO and no debates about growth investing. If you have no interest in value investing, you're in the wrong place. And if you do, then participate in the discussion. I like newcomers with different ideas, but I for one do not want this thread to become a general investing thread, or some inane debate about value vs. growth. Tried to post this once but think it got lost. If it went twice sorry all.