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- 21 December 2010
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Its only cheap --- relative to the current information.
Often cheap is what its worth to the market and as price drops cheap becomes cheaper and can and often does find its REAL value at the "Cheap" level.
Ducati a poster here did a 2 yrs challenge on the "Value" investing theme. He's no Fundamental slouch.
Went broke in that time. The very lengthy thread is here somewhere on the forum.
I Dont know I saw another --- they worked damned SMART!
I still do not get it. Let's say you go into the supermarket and buy yogurt for 1 dollar. You have been buying this for a long time and today it is selling for 70c. If what you said is true, then this 70c is not cheap. It has to go down further and get even cheaper. Let's say the price is now 50c. But the thing is that, you still do not think 50c is cheap unless the price starts going up.
For all the successful people I know in this business, they worked very hard. I am not sure if we meant the same, but work smart alone does not guarantee a successful career.
I am kind of lost in this discussion. Maybe I should stay in HotCopper.