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<<I fully agree with you dbPhoenix on your buying strategy>>

I don't know that I'd call it a "buying strategy"; I'm just waiting for it to stop falling. I'm also trying to sift out the facts.

The subjects of faith or belief don't enter into my decisions to buy or not to buy. I try to avoid words like if, might, should, ought to, can, expect, anticipate. When I first read The GG, the thought that faith might be required never really occurred to me. To the contrary, the GG struck me as a very "show me the money" sort of approach - yes/no, is it/isn't it, does it/doesn't it. And while the idea that the market commonly undervalues gorillas made perfect sense, I never extrapolated from that that one might be expected - much less required - to argue or even ignore the market with regard to valuation.

No investment approach should require faith. One who embraces such an approach invariably, sooner or later, finds himself in the position of having either to admit that he was wrong and abandon his position (psychologically, a low-probability outcome) or to adhere to his position even more strongly, even if that means disconnecting himself entirely from market realities. The "long haul" will not save him if his position is untenable.

I had thought that the strength of the GG was to prevent the investor from taking such a position, not to encourage him to do so. But there's always the possibility that I've misunderstood all of this from the very beginning.
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