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

To: Tomato who wrote (5451)	12/17/1998 10:46:00 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78742

Tomato: Thanks for the post. I think I saw that same Harvard guy on Wall St. Week a few years back. He made a lot of sense to me -- I like trying to be aware of the psych./emotional aspects of investing (which you might even guess if you've read some of my posts -g-), but this guy spoiled it for me by recommending a stock - actually almost guaranteeing a profit with it -- and it was some cockamayme Canadian coal-transforms-into gasoline company. As I recall, Mr. Rukeyser himself did not disagree, or he commented favorably (and as you must know, he is pretty careful to caution investors about his guests' picks). Well he missed there, and as a result there was quite a maelstrom of criticism directed Louis's way in the financial press, and by viewers. Anyway, I'll look for his book in the remainder section of my fav. bookstore in my fav. outlet mall. (I'm currently reading Seth Klarman's Margin of Safety-- bought there @ $3.00-- thought it was a good value -g- . As I think about it, I'm doing better at buying investment books than I am at buying stocks. -g- ) Wait, wait wait... I've got my notes from the program (May 24, 1996--- Dick Geist) right here. I can't believe it's just right above me on my bookshelf "Eighty to ninety percent of all investment mistakes are psychological not financial". "I think in making decisions... about investments, most people have the same information and can learn the financials. (note: ah now I see --- the FINANCIAL CALCULATOR -gg_) And what they're really missing is the psychological stability to engage in a market that is so volatile at this point that it affects them every day." And later... "I also like Solv-Ex, which has discovered a technology for getting oil and minerals out of tar sands up in the Athabasca region. It will be the biggest oil company in the United States and maybe the world." Ruckeyeser: "That one's been highly volatile and has sold off sharply in recent weeks." Geist: Sold off sharply, down to $6 from $30 because of media hype, negative media hype, and then it's come back to $26 today. Rukeyser: "Now we've had some positive media hype. Let's turn to our panel...." Later: Rukeyser: "If you could give just one piece of psychological advice to people, what would it be?" Geist: "It would learn about how one reacts ahead of time to anxiety and volatility in the market." Well as I say, I do like some of his (Geist's) ideas.