Thank you Hense for your toughts on QE. I think it is important for our group to be thinking about the medium and long term effect of QE on our individual portfolios. Even if B & P have a long term view of investing, I think it’s also important to understand and be aware of what is going on, medium and short term.
It is a known fact that the game of investing is played by two teams, the Big Boys with all the info on one side and Joe Public with nothing but hype and truncated info on the other. In looking back at 2013 it is easy to see that we have missed (since 2009 actually) a major uptrend in US equities. It’s never as easy when looking ahead and there lies the problem.
I have always appreciated the discipline that comes with sticking with an idea of investing. If you beleive in your ideas, it is, in my opinion, foolish to change it to embrace every new fads that comes out. In that regard, B & P has no fault. But this comes with an important caveat and it is that those ideas have to be forcefully challenged regularly. I read that they are.