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stephenbaker

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  • stephenbaker commented on Holly LaFon's article 04-16 08:08
    Warren Buffett to Vote Against USG Board in Support of Gebr Knauf Takeover
    Warren Buffett (Trades, Portfolio) decided Thursday to join a shareholder movement against the election of four nominees to U.S. gypsum maker USG...
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    stephenbaker 04-16 09:08
    • I have never understood Buffett's rationale for the USG investment.  Anyone?
  • stephenbaker commented on The Science of Hitting's article 04-11 14:05
    The Coffee Can Portfolio
    In the first episode of “The World According to Boyar,” host Jonathan Boyar sat down with Chris Mayer, the chief investment strategist of Bonner...
    View all 5 comments
    stephenbaker 04-11 15:05
    • You bet, Science.  But I had lunch today with a retired, CPA friend of mine who has us both beat - he still holds stocks purchased as early as the mid 1960s.  He was gloating about the thousands of shares of United Technologies he still owns, and when I asked him what his cost basis was, he replied "$1/share".   I haven't computed the CAGR on his investment and suspect that it may not actually be high as one would think, but the moral of the story seems to be to buy great stocks, don't overpay and hold them for as long as you can.
  • stephenbaker commented on Soid Ahmad's article 04-09 14:43
    Why You Should Avoid Run-of-the-Mill Passive Strategies
    As we witnessed one of the longest bull market during the last decade, passive has been doing really well. In 2016 alone, fund inflow to passive...
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    stephenbaker 04-09 15:43
    • A few comments:

      1.  Who says that we are in a bear market?  If we are how do you know and if not, you may only find out too late.

      2.  Smart Beta or value ETFs may or may not outperform.  Just what is a smart beta ETF or even a "value" ETF?  Unless you are talking about an index fund like the S&P 500 or even the Russell 2000, when you have to choose particular ETFs, doesn't that involve an element of active investing?   

      My take on your article is that you are, or are attempting to time the market.  As an alternative, why not just try to find cheap stocks no matter what market conditions prevail.  If you only invest in ETFs, why not utilize value principles and invest [more> heavily in ETFs when prices are cheap?  Otherwise, dollar cost-averaging into inexpensive, broad based ETFs seems like a more time and cost-effective approach.

       

       
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