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 Strategies & Market Trends : Value Investing

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To: James Clarke who wrote (8933)11/14/1999 12:32:00 AM
From: Michael BurryRead Replies (1) of 51589
 
"I'd like to think that if I own real absolute value stocks it won't matter if the big indexes drop 50%. But that might be wishful thinking. "

Jim, in that Rediscovered book, Graham makes it quite clear that value stocks will be punished every bit as much and probably more in a market downturn, according to his research. He of course advocates raising cash or adjusting to bonds if one thinks the market is too high. In another area, though, he talks of the tremendous values that can be found even in a high-priced market. I find this book fascinating -- lots of stuff I hadn't read before.

Mike
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