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Brandes Investment Partners Still Underperforming Sharply, Losing Clients
Reply to #11 - I agree with you here. They could have avoided all these train wrecks though IF value investing worked. No one way to invest works consistently over time. You have to change with the markets. You can see how the first in may have benefited, no? I don't think anyone can defend their performance here. Take care and let's hope 2009 is better for everyone.— January 22, 2009 11:11 a.m.
Brandes Investment Partners Still Underperforming Sharply, Losing Clients
Reply to #8 - What argument for value investing can you make when it says to buy Fannie Mae, Freddie Mac, General Motors, Ford, Gannett, McClatchy, Homebuilders, Washington Mutual, National City, Royal Bank of Scotland etc etc....? The Performance speaks for itself. My point wasn't that growth investing was better either. My point was that a move to Treasuries would have been smart. If there was the "level of safety" in these stocks that Graham talks about, then they wouldn't go to zero or lose 90%. I am just not convinced that value investing works anymore. Proof is right there to see. Also, in their heyday, they bought many illiquid international stocks, not this U.S. stuff. If you have billions of dollars chasing relatively illiquid stocks, don't you think it moves them up? Their performance hit the skids once they couldn't buy illiquid stuff anymore and were forced into stuff like GM, F etc. Just look at the big picture. I am not saying it was done intentionally. Wouldn't you love to own a basket of stocks knowing that there is a ton of cash behind you ready to keep buying them?— January 22, 2009 7:13 a.m.
Brandes Investment Partners Still Underperforming Sharply, Losing Clients
I think this proves that this whole Graham and Dodd approach is non-sense. Why didn't it catch WaMu, the Autos, the Banks, the newspapers etc etc..honestly, a superior money manager would have hid out in Treasuries, locking in a gain while the market melted down. Then, once the carnage was over, come on in and selectively buy the beaten down quality stocks. They would have looked like geniuses. You have to atleast pose the question of whether this was some sort of a Ponzi Performance prior to their meltdown, How, you ask? They bought alot of relatively illiquid stocks back before they got huge. With an avalanche of new money chasing these stocks, they inevitably went up. Thus, the people in first, got nice, index-beating returns as all this money drove up their stock picks. Eventually, like most Ponzi deals, the bubble bursts and down they come. Now, they have crashed. This whole "value " approach crap is non-sense. Why nobody but you Don has even reported their poor performance is startling. Maybe all the society events is a way to hush anyone that may have spoke out? All speculation but seriously think about the big picture here. They may have run a Ponzi Scheme without even realizing it was happening. Peace Colt— January 21, 2009 9:21 p.m.
Delicious Irony: SEC Clears San Diego Councilmembers at the Time the Public Is Learning What a Worthless Agency It Is
When you think about it, every company is a ponzi scheme. The top get loaded off the backs of the workers, who are often underpaid. They slash jobs while paying themselves bonuses.— December 26, 2008 9:01 p.m.
Federal Reserve Essentially Admits It Is Fighting Depression, Not Simply Recession. It Lowers Interest Rate Target to Lowest Level Ever
Next Bubble? Gold and Silver...you heard it here first. All of a sudden, everyone will realize currencies are worthless.— December 16, 2008 8:34 p.m.
More Copley Competition:McClatchy's Miami Herald Reportedly on the Block
Rocky Mountain News is up for sale after 150 years....SAD!— December 8, 2008 6:55 p.m.
Brandes Takes Another Bath; This One Is in Royal Bank of Scotland
Reply to #16 - Wish I could have went as one of his shareholders holding the bag. Oh wait, that has happened everyday of late, not just on Halloween. Talk about laughing all the way to the bank. Clients have been fleeced. Explain how they have enhanced shareholder lives by losing 1/2 their money? BOO! or is it BOO HOO!— November 26, 2008 9:38 p.m.
Deflation Here? Consumer Prices Drop. So Do Stocks, Residential Real Estate, Commodities, and Consumer, Investor Confidence
Market is in complete life ruining mode. The GREAT DEPRESSION 2 is on our doorstep. Better be protected as I see a crime wave as people become desperate for food.— November 20, 2008 6:57 p.m.
First Big Shoe Drops in Next Crash; Citigroup Reports Big Loss in Credit Card Securitization
Reply to #3 - If they spent as much time picking better investments than decorating this castle, maybe the portfolios wouldn't be ruining lives. This type of gluttony is so wrong given the wreckage in client accounts. They should be ashamed.— November 11, 2008 12:33 p.m.
City Pension Fund Is Only 58 Percent Funded, Council Will Learn Tomorrow. Will It and Mayor Listen?
One thing is for sure...no new Chargers Stadium! Where in the World would the City get the money. Also, I hope all these baseball players (Holiday turns down $72 million/4 years, Ramirez turns down $50 million/2 years) see attendance PLUNGE in this Depression. I urge all to boycott pro sports until salaries plunge.— November 11, 2008 12:26 p.m.