Normal
There is no easy answer even with regards to value investing. Your GOOG example is "Once in a Blue Moon" outcome that you feel particularly emotionally attached to as you missed the gains that followed. I have had similar examples on the asx where I thought "It's too expensive, so I'll pass and wait for a cheaper entry" and missed out as the stock continued higher. But these are some exceptions that are somewhat rare.If valuations are of no value at all your GOOG example would have applied to every Tech stock that went bankrupt or pretty much worthless during the tech wreck. They had lofty valuations in the 100's with minimal or in some cases no earnings at all but people thought this is the 'new normal' i.e. the Tech mania removed any common sense and reality check from punters, speculators, traders and even seasoned investors who threw the value books in the bin and joined in at the latter hysteria stages.So just remember, for every GOOG or MSFT or NFLX tech stock that made it big time, there were 100's (maybe 1000's) of Tech stocks that failed. So these are the few that rose from the ashes of the Tech bust. Predicting these were the winners (and would later become household names) amongst thousands of Tech hopefuls would have been near impossible without some form of time travel or future telepathy.
There is no easy answer even with regards to value investing. Your GOOG example is "Once in a Blue Moon" outcome that you feel particularly emotionally attached to as you missed the gains that followed. I have had similar examples on the asx where I thought "It's too expensive, so I'll pass and wait for a cheaper entry" and missed out as the stock continued higher. But these are some exceptions that are somewhat rare.
If valuations are of no value at all your GOOG example would have applied to every Tech stock that went bankrupt or pretty much worthless during the tech wreck. They had lofty valuations in the 100's with minimal or in some cases no earnings at all but people thought this is the 'new normal' i.e. the Tech mania removed any common sense and reality check from punters, speculators, traders and even seasoned investors who threw the value books in the bin and joined in at the latter hysteria stages.
So just remember, for every GOOG or MSFT or NFLX tech stock that made it big time, there were 100's (maybe 1000's) of Tech stocks that failed. So these are the few that rose from the ashes of the Tech bust. Predicting these were the winners (and would later become household names) amongst thousands of Tech hopefuls would have been near impossible without some form of time travel or future telepathy.
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