This is wishing all our members and blog visitors a happy and prosperous 2008 !
Let's remember that there will be market turbulence ahead this year, the forecast for the US economy is still unclear but the value investor should not worry. Rather we should focus on
1. risk management, emphasis on preservation of principal
2. quality stock-picking. Focus on defensive plays, especially cash cows with little or no debt
3. portfolio balancing through diversification and position sizing.
I do not feel it's time to sell off, however I won't be adding to positions until there is some signs of stability and screaming bargains with good margins of safety.
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