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re: Groupon: The dumpster fire of tech stocks
Posted on 11/19/12 at 5:02 pm to acgeaux129
Posted on 11/19/12 at 5:02 pm to acgeaux129
quote:
he's a value investor. it may be cool to clown him and he's certainly not going to be some sexy growth fund manager. 76% over the last decade is nothing to sneeze at and definitely not results that warrant the label of "washed up goon." Come on bro.
Most of that 76% came from great deals he got simply because he had so much capital to invest. He still deserves credit because he pulled the trigger, but shite I wish I was offered 10% preferred Goldman stock at a big discount.
In the BofA deal he basically bought stock at ~$5.15 that was trading around $7. Would I go as far to say he's a washed up goon? Probably not, but THF has a point. Value investing the Buffet way will not be nearly as profitable as it was during Warren's great run-up of the 80's to mid 2000's. That was a period of falling interest rates, disinflation, and a massive stock market rally. The pre-existing conditions for that will probably not return in any of our lifetimes.
2
Posted on 11/19/12 at 8:45 pm to BennyAndTheInkJets
quote:
Most of that 76% came from great deals he got simply because he had so much capital to invest. He still deserves credit because he pulled the trigger, but shite I wish I was offered 10% preferred Goldman stock at a big discount.
True, but he certainly shouldn't be penalized for attempting to maximize return.
quote:
In the BofA deal he basically bought stock at ~$5.15 that was trading around $7. Would I go as far to say he's a washed up goon? Probably not, but THF has a point. Value investing the Buffet way will not be nearly as profitable as it was during Warren's great run-up of the 80's to mid 2000's. That was a period of falling interest rates, disinflation, and a massive stock market rally. The pre-existing conditions for that will probably not return in any of our lifetimes.
Very true and it happens. Graham somewhat backed off on his security analysis methodology, chalking up much of his success to an environment of inefficient dissemination of financial reporting and a shortage of intelligent investors.
Certainly won't argue with a similar stroke of environmental luck for Buffett. And his most ardent followers are goons. This doesn't mean he is.
This post was edited on 11/19/12 at 8:46 pm
Posted on 11/20/12 at 2:58 pm to BennyAndTheInkJets
quote:
Value investing the Buffet way will not be nearly as profitable as it was during Warren's great run-up of the 80's to mid 2000's. That was a period of falling interest rates, disinflation, and a massive stock market rally. The pre-existing conditions for that will probably not return in any of our lifetimes.
If the whole "value investing" buffet approach isn't as profitable going forward, what are your thoughts on strategy? I get what you are saying- rates are bottomed out, growth will not be near as explosive going forward, etc. I'm always open to hearing thoughts and advice on what strategy might be best going forward.
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