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

To: porcupine --''''> who wrote (201)	4/19/1998 11:46:00 AM
From: Freedom Fighter	Respond to of 1722

Porc, Wayne << I use a lot of macro-economic statistics, stated ROE, a measure of ROE that uses only recent retained earnings and the growth they have produced, distributions of income between workers and business, and several other indicators. None is truly accurate due to the many complexities, but they serve my purpose. >> Porc. >That's how I feel about Value Line. The problem with using Value Line for aggregate studies is that it is more inaccurate for these purposes. It makes many subjective judgements about what to include and what not to include in the data. It is presently so heavily tilted toward good stuff and leaving out all the bad stuff that it is necessary to dig deeper. My efforts are not perfect either I can assure you. They are a step towards more accuracy because I am trying to look at what is really happening without the VL subjective judgements. This is not a criticism of VL. The judgements it is making are made in a effort clarify some things that investors should know on a company by company basis. There simply isn't enough room for them to tell everything that is going on. That is why I always look at the 10Ks and do my own spreadsheets.