Foregoing the difficulties of matching up your careful and heavy researching of 'cigar-butt' companies and investing against a background of computerised trades which can buy and sell the same stock in thousandths or a second, it's nigh-on impossible to beat that kind of setup.
I've watched this TV show made by the BBC called "Traders: Millions by the Minute"
Hello everybody. Ive recrntly been reading alot on buffetts bio. I am amazed. Some people say he was in a lucky period hence he got lucky. Im just curious. Alot of the companies he invested early on were selling not just below book value but basically for a dime. You were getting so much in current assets for just a dime. This was schloss' investment strategy up to his closure of his fund. Schloss said he couldnt find any more of these 'cigar butt' companies. Schloss basically said it didnt work anymore looking for value.
As we see nowadays the investments buffett makes today are so different to his investments back in day. Im wondering how effective is it to invest in companies selling below book value but not insanely under since i can find many companies with pb of 0.8 or so but not insanely cheap like during buffetts time and where the assets were mainly concentrated in current assets such as cash inventories etc.
