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From: "Duncan MacGregor" <>
Date: Sun, 23 Feb 2003 13:27:09 +1300 (New Zealand Daylight Time)

A great explanation SNOOPY. It seems warrens way is more or less my way. I might not be as thorough as warren but in my own little way I tend to follow his methods. I use charts to see where a share is coming from but thats it, my buy and sell points come from my own judgement not Mr markets wild forecasts as you would get from a chart.
Mr market is unpredictable and common sense is the best thing to use to beat him.  The thing we all strive for is working out today what the best investment is for tomorrow.  Some people do more harm than good by trying to complicate it to much where as the poor old mum or dad investor thinks its all above them and dousnt invest in the market at all. I look at it this way I am up against a lunatic and have to out think him.  I was convinced of Mr markets lunacy in Aus when I saw Poisiden shares start at 50 cents top 135dollars and plunge back to zilch. The other classic was Apollo mining would rise and fall 5pc with the rockets going up and down.   Cer was a share I was interested in at one stage so I did some homework on it.   Compared to roundup which I use a lot, it costs about double, works ok, but not for commercial growers uneconomic I found.  I devide the market into sectors, then pick the best two in each sector so that if a sector is making a comeback, I back my companies pretty well regardless of entry price.  I hold as long as it takes could be years or weeks.  My exits come when I think thats the end of the run the sector must drop.  The farm sector is out along with transport in my reckoning with service and retail in.  The power sector is the one to pick at the moment big changes and turmoil on the horizon a few traps set for young punters and prizes for the lucky.   Pwc is a company Im doing some homework on at the moment has been on a long down trend for ages cant go much lower prospects look good If they consolidate and stick to the knitting.   The gas might be a worry but thats down the track a bit.  Any one any info on that I need a second opinion.
                                                            CHEERS  MACDUNK.
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