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

To: James Clarke who wrote (6641)	4/9/1999 1:19:00 AM
From: Michael Burry	Read Replies (1) \| Respond to of 78568

I agree with the pessimists. If a rising tide don't lift your particular boat, a tidal wave ain't going to either. I guess since my boat is being floated by this rising tide for now, I'm just a bit optimistic. But are you insinuating that I am doing something contrary to value principles to get my returns this year? And if so, then why shouldn't it continue, and still have some downside protection in the event of a meltdown? (this is all rhetorical) I think we should be clear that it will take a meltdown for the market to change character. 20% corrections don't do it. Something needs to threaten the mutual funds, threaten the public into withdrawing large sums all at once, threaten them to stop rolling over 100% of their retirment into index funds. No doubt about it - the average investor thinks of an S&P index fund as equivalent to a money market in terms of safety. Having Easter in a cocktail party setting confirmed that for me. Mike

To: James Clarke who wrote (6641)	4/9/1999 1:21:00 AM
From: Walter in HK	Read Replies (2) \| Respond to of 78568

>> but I am going to wait until the market breaks<< Does anybody have Buy-Orders in, against a break ? I have started to do that, GE at 75, FELE (Franklin Electric) at 48. Got to work on some more. If we really like a stock, we can determine at which price we would like to add, then put it on Automatic Pilot. It would also keep the number of issues down which one owns. Easier to keep track, and Buffett says: 20 times at bat in a lifetime, is what one really should follow... I must admit, I still have cash lying around, from my house sale (after 28 years, a 10-banger if you don't count inflation) One has to update the orders, from time to time. I forgot, had GE at 53 and it broke to 69 in October. Any thoughts ? Walter in HK