No. of Recommendations: 4
So as a guy new to the board this is deflating. If the vets are saying they are bailing out, does it make sense for a new guy to jump in?

Um, you didn't see "vets" are bailing. You saw one guy.

Here's a few quotes:
"Every investment strategy goes through periods where it works poorly. That’s life. If you have a strategy that always works well, that means:
You haven’t run it long enough or You’re not running enough money, or You’re not taking enough risk."
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"Most investors do poorly, but it’s not because good investment methodologies are secret. It’s because they do not have the will to stay with a winning strategy during a period when it is under duress."
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"Value strategies work over the long run, but not necessarily in the short term. There can be prolonged periods of underperformance. It is these periods of underperformance that ensure that not everyone becomes a value investor (coupled with a hubristic belief in their own abilities to pick stocks).

"It is this periodic underperformance that really helps ensure the survival of such strategies. As long as investors continue to be overconfident in their abilities to consistently pick winners, and myopic enough that even a year of underperformance is enough to send them running, then strategies such as the Little Book are likely to continue to do well over the long run. Thankfully for those of us with faith in such models, the traits just described seem to be immutable characteristics of most people. As Warren Buffett said “Investing is simple but not easy”."
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