tag:blogger.com,1999:blog-7294165939647321702.post5506599267329298532..comments2024-03-28T13:45:43.362-04:00Comments on <center><a href="http://www.barelkarsan.com">Barel Karsan - Value Investing</a></center>: Small-Caps Do BetterSaj Karsanhttp://www.blogger.com/profile/04493152766022812984noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7294165939647321702.post-73530720328370027562008-07-04T13:25:00.000-04:002008-07-04T13:25:00.000-04:00I totally agree Frank. Thanks for your comment, de...I totally agree Frank. Thanks for your comment, despite the shameless plug ;)Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-74026896292520318362008-05-15T01:35:00.000-04:002008-05-15T01:35:00.000-04:00Long time reader, first time commenter :-)Love the...Long time reader, first time commenter :-)<BR/><BR/>Love the "Volatility is not Risk..." quote.<BR/><BR/>Benjamin Graham discusses the misuse of "risk" in Chapter 5 of <A HREF="http://www.amazon.com/gp/redirect.html?ie=UTF8&location=http%3A%2F%2Fwww.amazon.com%2FIntelligent-Investor-Definitive-Investing-Practical%2Fdp%2F0060555661%3Fie%3DUTF8%26s%3Dbooks%26qid%3D1210220262%26sr%3D8-1&tag=fravoiblo-20&linkCode=ur2&camp=1789&creative=9325" REL="nofollow">The Intelligent Investor</A>, saying essentially the same thing you say in your post. Risk should not refer to temporary declines in the share price. Price fluctuation may be cyclical and temporary in nature and can be used to the Value Investor's advantage.<BR/><BR/>Risk should only be used to refer to the likelihood of a significant deterioration in the company's position.<BR/><BR/>I discuss this in <A HREF="http://www.frankvoisin.com/2008/05/intelligent-investor-ch-5-defensive.html" REL="nofollow">my review</A> of chapter 5. I am reviewing each chapter of <A HREF="http://www.amazon.com/gp/redirect.html?ie=UTF8&location=http%3A%2F%2Fwww.amazon.com%2FIntelligent-Investor-Definitive-Investing-Practical%2Fdp%2F0060555661%3Fie%3DUTF8%26s%3Dbooks%26qid%3D1210220262%26sr%3D8-1&tag=fravoiblo-20&linkCode=ur2&camp=1789&creative=9325" REL="nofollow">The Intelligent Investor</A> at my blog - <A HREF="http://www.frankvoisin.com" REL="nofollow">frankvoisin.com</A>Frankhttps://www.blogger.com/profile/07035193725717367189noreply@blogger.com