What Mohnish Pabrai Didn't Know Hurt Him Badly [View article]
This article is one of a long series on how value managers suck and we're in a new paradigm where commodities and the BRIC are everything.
I especially enjoyed this quote 'Knowing what’s going on in the world is a huge part of participating in the markets and value investors aren’t excluded from that requirement.'
That's clearly a trend followers strategy and has nothing to do with value so no, value investors are excluded. I go back to Buffett's quote 'Stop trying to predict the direction of the stock market, the economy, interest rates or elections'. Buffett made mistakes too but made up for it with plenty of wins, it happens.
At some point price will follow value and there will be a new trend to follow. In the meantime I'm happy to sit with my fellow dividend/value investors looking like an idiot day in and day out.
Is Berkshire Hathaway Now a Bargain? [View article]
guliamo is right, there will never be another Buffett
The man is a legend and a 30% premium is not unreasonable. Being how close he is to retirement, this is one of 3 reasons I will never own BRK. The other 2 being valuation(Buffett wouldn't buy it if it wasn't his, either will I) and no dividend.
What Mohnish Pabrai Didn't Know Hurt Him Badly [View article]
I especially enjoyed this quote 'Knowing what’s going on in the world is a huge part of participating in the markets and value investors aren’t excluded from that requirement.'
That's clearly a trend followers strategy and has nothing to do with value so no, value investors are excluded. I go back to Buffett's quote 'Stop trying to predict the direction of the stock market, the economy, interest rates or elections'. Buffett made mistakes too but made up for it with plenty of wins, it happens.
At some point price will follow value and there will be a new trend to follow. In the meantime I'm happy to sit with my fellow dividend/value investors looking like an idiot day in and day out.
Is Berkshire Hathaway Now a Bargain? [View article]
The man is a legend and a 30% premium is not unreasonable. Being how close he is to retirement, this is one of 3 reasons I will never own BRK. The other 2 being valuation(Buffett wouldn't buy it if it wasn't his, either will I) and no dividend.