The Inoculated Investor: WCAM's Lance Helfert on Fast Money (12/29/2010)

Monday, January 3, 2011

WCAM's Lance Helfert on Fast Money (12/29/2010)

Dear Readers,

First off, I wanted to wish everyone a Happy New Year. I hope that 2011 is a prosperous year for all of you.

My boss, Lance Helfert, was on CNBC again this past week discussing smart, value-biased stock picks for 2011. These are companies that are in WCAM's portfolio and for which I continue to be involved in the research process. It sure is nice to see the fruits of my labor on national television!

5 Best Value Investing Quotes

Seth Klarman: “It turns out that value investing is something that is in your blood. There are people who just don’t have the patience and discipline to do it, and there are people who do. So it leads me to think it’s genetic.”
Seth Klarman: “It sounds kind of crazy, but in times of turmoil in the market, I’ve felt a sort of serenity in knowing that I’ve checked and re-checked my work, one plus one still equals two regardless of where a stock trades right after I buy it.”
Howard Marks (Oaktree Capital): “For forty years I’ve seen the manic-depressive cycle of investor psychology swing crazily: between fear and greed – we all know the refrain – but also between optimism and pessimism, and between credulity and skepticism. In general, following the beliefs of the herd – and swinging with the pendulum – will give you average performance in the long run and can get you killed at the extremes.”
Bruce Greenwald (First Eagle Funds): "There are no bad days in the market. When the market is down, you’ve got bargains, and it’s lovely to think of what you are buying at low prices. When the market is up, the bargains have gone, but you’re rich.”
Mohnish Pabrai (Pabrai Funds): “Warren Buffett has said many times that people either get value investing in five minutes or they won’t get it in five years. So, there is something in the human brain, that for some of us, makes all the difference in the world right away and the patience it requires is part of the wiring process.”

The Inoculated Investor

Monday, January 3, 2011

WCAM's Lance Helfert on Fast Money (12/29/2010)

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The Inoculated Investor

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5 Best Value Investing Quotes