Re: The "New" Value Stocks
Not at all. Its just that some investing schemes may be better for some people than others, and as times and needs change, so may the investing method. Although to be honest I think what changes is how people THINK the investing method is going to work for them.
I thought I was pretty smart and could get an edge buying individual stocks in a bull market. I think some people might have limited success with it in a sideways market, but we do have a tendency to remember our successes and forget our failures.
Its been pretty well proven to ME that the majority of short to intermediate term market movements have no basis whatsoever in facts and figures but in group think and investor psychology. I've seen the same stimuli produce opposite results or no results at all in a stock price. With the myriad of influences present, its implausible that you could buy a stock, even a reasonably priced one, without plans to hold it for a fairly long time, and even then be assured of a favorable return from a single issue. Certainly buying and holding 30-50 issues in different markets gives you enough diversity, but then you just built your own mini mutual fund. Maybe a good idea for small and microcap stocks that some folks feel are under attended to, although I'm not totally sold on that line of thinking.
And theres a very distinct, but perhaps fine line between arguing and making sure every facet of a complex issue is examined and discussed. For people who already have their minds made up, its an argument, to be sure.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.