Aggressive Investor (POV from "intelligent Investor Book")

In choosing stocks for their long-term prospects, the investor’s handicaps are basically the same. The possibility of outright error in the prediction is no doubt greater than when dealing with near-term earnings. Because the experts frequently go astray in such forecasts, it is theoretically possible for an investor to benefit greatly by making correct predictions when Wall Street as a whole is making incorrect ones. But that is only theoretical. How many enterprising investors could count on having the acumen or prophetic gift to beat the professional analysts at their favorite games of estimating long-term future earning?

To enjoy a reasonable chance for continued better than average results, the investor must follow policies which are (1) inherently sound and promising, and (2) not popular on Wall Street.

1. Buying a neglected and therefore undervalued issue for profit generally proves a protracted and patience-trying experience. Selling short a too popular and therefore overvalued issue is apt to be a test not only of one’s courage and stamina but also of the depth of one’s pocketbook.* The principle is sound, its successful application is not impossible, but it is distinctly not an easy art to master.

2. There is also a fairly wide group of “special situations,” which over many years could be counted on to bring a nice annual return of 20% or better, with a minimum of overall risk to those who knew their way around in this field. They include intersecurity arbitrages, payouts or workouts in liquidations, protected hedges of certain kinds. The most typical case is a projected merger or acquisition which offers a substantially higher value for certain shares than their price on the date of the announcement.

3. A third and final example of the golden opportunities not recently available: A good part of our own operations on Wall Street had been concentrated on the purchase of bargain issues easily identified as such by the fact that they were selling at less than their share in the net current assets (working capital) alone, not counting the plant account and other assets, and after deducting all liabilities ahead of the stock. It is clear that these issues were selling at a price well below the value of the enterprise as a private business.

Pendeknya untuk menjadi agressive investor tidak mudah, karena kita harus bisa membaca prospek, melakukan analisa menyeluruh dan valuasi yang akurat dan tidak boleh kalah dengan analyst profesional. Apakah part time investor sanggup melakukannya?

sebagai agressive investor, ada 3 skillset sebagai senjata untuk mendapatkan return diatas rata rata :
1. Membeli saham undervalue atau melakukan short untuk saham overvalue dimana ini cukup menantang apabila saham pilihan kita melawan arus atau melawan common opinion dari berita dan forum stockbit ini. XD $PRDA

2. Melakukan arbitrage, memanfaatkan corporate action dengan sebaik mungkin seperti di tahun 2024 ini, karena tidak jarang ada rumor yang tidak terjadi ataupun batal. Sayangnya dengan semakin banyak partisipan maka nominal keuntungan kita akan berkurang. $ENAK

3. Pendekatan net net asset value apapun caranya, dengan prinsip membeli saham dibawah nilai aset yang dimiliki. perusahaan tersebut, dengan anggapan owner tidak akan menjual harga sahamnya dibawah nilai buku, ironisnya strategi ini berhasil di tahun 1957, tapi kurang berhasil di tahun 1970. $MBSS