[sgbuffett]

I have watched mqny Master Leong videos and digested many important lessons on investing especially useful are the deep dives into various companies.

My goal is to make money in the markets whatever works i am open to it. But everything i learn i check using data and analysis. There is nothing i believe without sufficent data and research.

In the end Master Leong declare "I am a value investor. I am.a global investor".  Being a value investor is a means to an end. But not the only means to the end. Almost every thing Master Leong criticise US stocks, Tesla, Bitcoin, Nvidia, etc all rose to new highs and to the most profitable investments while his main investment in Alibaba had gone horribly wrong. 

Lets get it clear we are now judgung something on hindsight so its not fair to the Master. The bubbles in Bitcoin, Nasdaq could have popped and China's leaders could have navigated tue economic morass lifting Alibaba and the likes to new heights. But things turn out to be reverse. What does it show?

It shows us the difficulty of predicting the markets. It is not the business of value investors to engage in predictions....worse still bet on it...

"Themarket can stay irrational longer than one can stay solvent".

In the current environment of financial nihilism, where an everything bubble is forming an intelligent speculator can make quick money following the money and having good exit plans. It is not the business of value investors to criticise this approach. People have made and lost fortunes on it ...and it can work for the smart and nimble . One is perhaps too arrogant and thinks to highly of himself to beleve he holds the Holy Grail  and all others are on their way to doom.

Value investing has no certainty in the short term and even medium term. Buffet has under performed S&P500 for several years. His Mentor was asked what makes value investing works in a congressional hearing ....why would undervalued stocks be restored to fair value. He said he does mot know exactly and how long it takes. Graham also lost all his clients money when under valued stock went bankrupt under strain of.economic depression. So there is uncertainty and limitations of this methodology.