tag:blogger.com,1999:blog-6798074091942701235.post898447120884460015..comments2024-03-29T01:35:09.550-04:00Comments on Can Turtles Fly?: Opinion: Current view of the marketSivaram Vhttp://www.blogger.com/profile/06361276466660862882noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6798074091942701235.post-59712910208061665832009-07-23T15:01:54.000-04:002009-07-23T15:01:54.000-04:00Dev: "As a concentrated investor, what the ge...Dev: <em>"As a concentrated investor, what the general market does shouldn't matter much to you, would it? </em>"<br /><br /><br />I think whether the market matters depends on your investing strategy rather than whether you are concentrated or not. I would say that bottom-up investors (value investors) would not care about the market. But if you were macro-oriented, which is what I am, the market does matter. Either style can be concentrated or not...<br /><br /><br /><em>"At the end of the day, the only way markets are going to affect a concentrated portfolio is by limiting how many opportunities are available."</em><br /><em></em><br />If you are a concentrated investor that is influenced by macro then market valuations will dictate potential returns. Let's say you think stock will return 8% per year for the next 10 years. If you were influenced by macro and actually felt that prices can drop then your returns can be 10% if you buy at future lower prices (assuming your outlook is correct.)Sivaram Velauthapillainoreply@blogger.comtag:blogger.com,1999:blog-6798074091942701235.post-122947844675574992009-07-22T14:16:06.000-04:002009-07-22T14:16:06.000-04:00As a concentrated investor, what the general marke...As a concentrated investor, what the general market does shouldn't matter much to you, would it?<br /><br />At the end of the day, the only way markets are going to affect a concentrated portfolio is by limiting how many opportunities are available. However, you don't need to gauge this by using market as a proxy, imo.devnoreply@blogger.comtag:blogger.com,1999:blog-6798074091942701235.post-78187941664949699302009-07-22T01:27:17.000-04:002009-07-22T01:27:17.000-04:00I know someone who'd been involved with the ma...I know someone who'd been involved with the market for decades, and is skittish right now. He's waiting for the "ides of October" to see what things are like then.Daniel M. Ryannoreply@blogger.com