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never at any stage did anyone on the investment committee say anything along the lines of "yes we understand the figures but have you got a chart as well so we can see our entry point".

The acquisitions either made sense and we proceeded or they didn't and we withdrew.

Mmmm !!! - yes, I think I would temper my comments about TA by saying that TA for me provides a short term indication of a buy point and if you have doubts about where the price is heading a positive indication of the exit point. I have to say that re-reading some of Warren Buffet last night he has the same opinion that you do - providing the fundamentals and management are right and the price is low enough he will buy and keep buying. He does stress though that buying good companies at the right ie low, price is not easy.
However, there is only one WB and probably ten zillion like me just trying to make a buck in a difficult market and I find that, for me, TA is a great help.
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