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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 (1390)	3/1/1999 1:35:00 PM
From: porcupine --''''>	Respond to of 1722

[porx mission statement] GADR = Value Investing Plus!!! [i.e., plus anything else that piques porx curiosity that day.] Long time readers of GADR may recall that I originally wrote under a different title. The title was intentionally very general, to allow for a diverse range of topics. However, general though the title was, someone made a claim of prior ownership. To avoid a further ruckus, I quickly, perhaps too quickly, made "GADR" the umbrella title for everything I was writing regarding the Market. Previously, "GADR" had referred only to my commentary on The Intelligent Investor that was being posted on the Net (and which I continue to work on, but am not yet ready to upload). Graham always has been, and always will be, my starting point, my ongoing inspiration, and my past, present and future source of intellectual renewal. However, there will be times when I seek to expand the boundaries of Graham and Doddsville. The 3rd Era thesis will not be repeated here. The point is that I personally do not expect to find the greatest excess returns by attempting to precisely imitate Buffett, any more than Buffett found them by precisely imitating Graham. I believe my best odds lie in using a simple cash earnings screen as the first cut in identifying undervaluation, then using other, possibly less over-worked, indicia to further narrow down the list of candidates. I think Graham would have approved of the general approach, however vociferously he might have rejected this or that of the particulars. porc --''''>