Many of his Benjamin Graham’s observations confirm the concerns that we had when we started Bloodhound, and they make salutory reading.
What does this all have to do with Bloodhound? We also believe that investors should rely on the performance of portfolios of stocks, not on individual stocks. We base their selection decisions on rules with a track record of performance that we follow consistently and which remove emotion from your decisions. We believe that market timing and short term trading are unwise policies for most investors (most of the model funds that we provide are buy-and-hold, most for a year at a time). We also believe that if you maintain a consistent investment approach and can see how it has performed over 20+ years that include Black Monday (the largest one-day Dow fall in history), 9/11, the Afghan war, the Iraq war, and two occasions in which the SP500 index has fallen more than 50%, you have more reason to have confidence than buying into a large fund based on its 3-year performance (if you read our analysis of Mutual fund returns for 2009 and compare the 5 year returns of the winners with our model funds, you will see what we mean).
A wise man whose words deserve revisiting; his rules are capable of multiple interpretation but his emphasis on value is a very important guideline, and we would be pleased to show you how easy it is to implement.