----- Original Message -----
Sent: Monday, February 07, 2005 10:05
PM
Subject: Re: [amibroker] OT:Re: Technical
Vs technofundumental trading
Pal,
Your exact reply was stated early on the Holygrailsm board at
4:37 pm by Drew....he must have plagiarized you. :)
*********************************************
Interesting...
The real key (IMO) is the Cash Flow
from operations (not one time sale of an asset, or increase from pension
income). I look for beat-up companies that will survive. Cash flow is key.
Oftentimes companies go down ala Merck, to name a recent example, but have the
wherewithal to recover. This is event buying and it works nicely. In the past
I've picked up 10-15% buying on bad news.
One must be extremely careful with the
use of PS. Retailers, insurance and supermarket chains typically have low PS
values.
Drew
**************************************
Anthony
----- Original Message -----
Sent: Monday, February 07, 2005 6:32
PM
Subject: [amibroker] OT:Re: Technical
Vs technofundumental trading
--- In amibroker@xxxxxxxxxxxxxxx,
"duke.jones" <Duke.Jones@x...>
wrote:
> However, price action is always the ultimate ruler in
exits and
risk management.
>
I agree with the above
statement. The real key is the Cash Flow from
operations (not one
time sale of an asset, or increase from pension
income). I use Cash Flow
per Share. I look for beat-up, un-loved
companies which nobody
wants, but that will survive in the not so
distant future. Often times
companies go down like Merck, for
example, but have the financial
strength to recover. This is buying
the rumor and selling the
fact.
rgds,
Pal
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