Reply to #10
Don,
You can go to www.gurufocus.com to see all of the disasters these value managers have bought. It is ugly and I believe value investing the way it has been done in the past is DEAD. The market
is controlled by a bunch of hedge funds who could care less about
fundamentals. Also, the emergence of the inverse ETFs causes them to short stocks without regard to fundamentals. Thus, value investing is not going to work anymore, especially when you buy debt laden companies during a credit crunch.
If I were these gurus, I would take my money and run. Get out now
before you lose it all. — July 15, 2008 9:27 p.m.
Brandes Gets Mug in Newspaper, but Moneywise Gets Mugged by Newspapers
Reply to #21 Burl Stiff's columns make me gag... JoAnn McSnob was there wearing her $40,000 designer gown from La Pierre Frenchie and oh the Wilsons were there hob-nobbing about their latest milllion dollar investment in Real Estate. Caviar and Leg of Lion were served to all. Also in attendance...Dr Plas T Surgery and Mrs. Fakey Smile. It was a delight to see bidders bidding on precious art pieces at $200,000 minimum bid. On a side note...valet drivers were reported to have received no tips all night from this crowd.— July 16, 2008 1:04 p.m.
Countrywide Stock Zooms 55 Percent on Rumor B of A Will Buy It
Reply to #10 Don, You can go to www.gurufocus.com to see all of the disasters these value managers have bought. It is ugly and I believe value investing the way it has been done in the past is DEAD. The market is controlled by a bunch of hedge funds who could care less about fundamentals. Also, the emergence of the inverse ETFs causes them to short stocks without regard to fundamentals. Thus, value investing is not going to work anymore, especially when you buy debt laden companies during a credit crunch. If I were these gurus, I would take my money and run. Get out now before you lose it all.— July 15, 2008 9:27 p.m.
Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It
Reply to #22 Why do you think they are able to get away with such lousy investments without any comment? You would think the SD UNION would be storming down the doors looking for answers as to why the greatest money manager in San Diego's history (atleast as far as assets under management goes) is all of a sudden falling apart faster than you can say "Bear Market". With July's numbers, they are probably down 50% now on U.S. stuff. I think there is a huge story here but nobody seems to want to cover it. Blows my mind! If I were a reporter, this would be my beat. I would blow the lid off of this 800 lb. gorilla to see what the heck is going on. There has been some staggering sums of money lost. Best, COLT— July 15, 2008 9:18 p.m.
Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It
Response to #13 Since the show up in the Society pages, the stocks and performance have both plunged. Coincidence? How could a smart committee of analysts buy so much of this stuff? I am amazed and would imagine investors are scratching their heads. I mean, mom and pop Smith wouldn't buy some of this stuff let alone an expensive money manager. This just proves no one way works over time. It just doesn't. The closest I have seen to being right on is Jimmy Rogers and he has fled the Country due to fear over the dollar collapse. Best, COLT— July 15, 2008 1:14 p.m.
Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It
Reply to #7 Brandes has bought all the blow ups lately including GM, F, WM, WB, NCC, FNM, FRE, CFC, KBH, the Newspapers, RHD, IAR etc etc....don't tell me these will all come back and be patient. CFC got bought out for pennies on the dollar and they lost about $1 billion on the investment. You can get info on www.gurufocus.com Want to see some staggering performance numbers from a value manager? http://www.brandes.com/Inv/Performance.htm Down 40+ percent on U.S portfolios and 30% on International? WOW! If this doesn't tell you that the value approach is dead than nothing will. It amazes me that people so smart would have bought all this garbage in such huge quantities. Did they really believe the downturn was temporary? This goes to show that no one way to investing works forever. COLTON— July 14, 2008 11:54 p.m.