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Author: yofluke Three stars, 500 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 50  
Subject: Just Finished Date: 11/20/2006 3:22 PM
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I just finished this book over the past couple of days. While I don't think I learned anything strikingly new that I have not learned over the past ~7 years of investing, I believe the book was worth the time and effort to read it. The book boiled down the fundamentals of value investing in an easy to understand way. It was a great refresher and I can see it being a greater motivator if someone's patience is starting to give.

yofluke
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Author: kahunacfa Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38 of 50
Subject: Re: Just Finished Date: 11/20/2006 4:58 PM
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Patience is probably one of the hardest things to learn as a value investor. When one finds a value investment situation, that is absolutely compelling, it becomes very difficult to understand why other investors don't just gravitate to the stock and buy it.

Kahuna,CFA

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Author: fdwelley One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 39 of 50
Subject: Re: Just Finished Date: 11/27/2006 5:42 PM
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I can see it being a greater motivator if someone's patience is starting to give.

Just what I needed, a reminder to keep at it. Value investing..digging around looking for bargains, takes a lot of time.

With regard to Greenblattt's book, I see myself using it to produce a list from which to start the digging. The companies that turn up on his screen meet a certain minimum qualifications. From there, the number crunching begins.

Thanks yofluke.

Frank D in CT

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Author: kahunacfa Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 40 of 50
Subject: Re: Just Finished Date: 11/28/2006 11:20 AM
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I can see it being a greater motivator if someone's patience is starting to give.

Just what I needed, a reminder to keep at it. Value investing..digging around looking for bargains, takes a lot of time.

With regard to Greenblattt's book, I see myself using it to produce a list from which to start the digging. The companies that turn up on his screen meet a certain minimum qualifications. From there, the number crunching begins.
- fdwelley | Date: 11/27/06 5:42 PM | Number: 39

I have a copy of Joel Greenblats book, The Little Book that Beats the Market, I have read the book, and I have bought the book, but I do not use that book's methods to prospect for value stocks.

I read a copy of The Little Book of Value Investing by Christopher H. Browne in the "Barnes & Noble bookstore free "Reading Room", but I have not yet bought the book. I did buy several double espressos - greatly improves my reading speed.

Prospecting for potential value investing situations? I always look at the new low lists in The Wall Street Journal, Barrons or Investors Business Daily(IBD). I read the Wall Street Journal(WSJ) every day, Barrons about once a month or so at the Library. I rarely read or even look at IBD. I do have a student rate subscription to the WSJ, because, well, I am a part-time, 62 year old, retired student here (http://www.jccc.edu). Sometimes TMF Board, "Falling Knives" adds to my "prospecting list".

I should use screens, but I don't. The last three Value Investing ideas that I bought in the last year or so have been: Pfizer(PFE) @ $22, A.T. Cross(ATX) at $3.95 - $4.13 book value, and Sycamore Networks(SCMR) at $3.35 or less - Company has $3.46 per share in cash, no debt. I found Sycamore Networks, because the company is in the depressed fiber-optic communications industry. I also bought 500 shares of Starbucks(SBUX) in the Fall of 2005 at $47 - pre-split. Starbucks is NOT a Value Investment, but a Starbucks area manager, "Stacy", spoke at a SCORE Chapter 19 (http://www.scorekc.org) last Fall. She described working for the company. I enjoyed her presentation, and learned that all of the Starbucks units, except their partnering bookstores, etc., are company owned. I had previously thought that they (SBUX) were a franchise operation - WRONG!

Kahuna,CFA

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Author: kahunacfa Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 41 of 50
Subject: Re: Just Finished Date: 11/28/2006 11:30 AM
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I forgot to mention that I also bought a lot of Northfield Laboratories(NFLD) at $8.50 per share this year. Northfield Laboratories )http://www.northfieldlabs.com) is also not a value investment, except on a three to five year basis, IF and only if the company is successful in gaining FDA approval of PolyHeme(R), a Human Blood substitute product for Trauma patients. Northfield is best described as publiclically traded Venture Capital - a binary outcome stock, either zero, or a multi-bagger over the next three to five years. Northfield's Phase III (final) clinical trial of PolyHeme(R) ended at the end of July 2006. The Medical Center where I volunteer (http://www.kumc.edu) was one of the 32 PloyHeme(R) Phase III clinical trial sites. That is how I learned about Northfield early this year.

Kahuna,CFA

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