Jammie - Two schools of thought regarding buying stocks at large...

Jammie - Two schools of thought regarding buying stocks at large discounts to net assets:

(1) Wait for the catalyst to occur, before buying. This is a very time efficient use of investor's funds, but total returns are diminished, compared to (2) Patiently buying at rock bottom prices, and usually waiting, waiting, waiting for a catalyst to propel the stock.

I almost always prefer (2), because I can get set with the volume I want, at the price I want. I don't care if that takes years, because the combination of volume x upside is dynamite, more than offsetting the time value of funds invested while waiting for a return.

The risk is that nothing may ever happen to the stock. However, my experience is that sooner or later, something good will happen to a value play within 5 years of bottoming, in about 80% of cases.