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

To: Paul Senior who wrote (5316)	11/22/1998 8:31:00 PM
From: cfimx	Read Replies (2) \| Respond to of 78596

paul, i have little doubt that the stock will bounce around in the next few years. What you are doing is practicing a form of investing that Buffet has really DISCREDITED with his own record and observations. This kind of investing is probably a tad more tasteful for him than momentum investing. No offense. But this stock points it out perfectly. You will need to watch it like a hawk. You will need to know when to sell it. You will have taxes to pay if you are succesful at one and two. That's something that VALUE investors have missed. It is that Buffet has really REPUDIATED Graham's methods—as much as he learned from him in the beginning. If the world's most accomplished investor is saying that there is a better way, why not listen? Buy a good business for what it's worth and don't sell it. And finally, ask yourself why, if all those other things are UP in five years, this stock is BELOW where it was five years ago. Getting to that answer would be a great exercise.