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

To: jeffbas who wrote (4587)	8/4/1998 2:52:00 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78667

Well of course no one has unlimited capital to invest. But, per T Rowe Price, on his deathbed, per Forbes, and paraphrased by me: "Always keep some powder dry". One plans to have capital always available. One trims outsize positions, one takes gains in formerly undervalued stocks that have achieved fair value, one prunes stocks that aren't working as envisioned. One funds IRAs, 401s. I don't see the future as you envision it. So I don't see the odds as you do. I try to pick these value stocks bottom up only without incorporating a macro view. This is ala Graham I hope. Just trying to follow what's worked in the past. Saying that value stocks - already in a bear market-- will be dragged down even further because big caps will decline-- yeah sure, I could see it. But where's any evidence that it has happened before this way and/or that patience/doing nothing is the optimum strategy therewith?