Quote from Ghost of Cutten:
This would also argue against trying to value invest if your full-time gig is being a trader. How many people are top in two separate sports? How many poker pros are chess grandmasters also? If only the elite can thrive, and your best skill is trading, it is incredibly unlikely that you will also be good enough to seriously outperform through value investing as well. Also, as a good trader, your hurdle rate will be massively higher than most pro value investors. If you can make 20%+ with <20% drawdowns as a trader, then very few value investors are able to compete with those numbers. Even if you are somehow a Soros and Buffett rolled into one, you have a limited amount of study time per week. A pure trader, and a pure value investor, of equal ability to yourself, will be doing at least twice as much work on their specialist field each week as you are able to. There's really no realistic way to compete on the same level.
So, it's probably best to stick to your knitting, and only step outside your speciality if a truly exceptional opportunity presents itself (e.g. late 2008/early 2009). This has the nice side-benefit of making you into the equivalent of a super-patient investor who is fully in cash at the depths of every bear market.
