Email of the day (2)
On the Contrary Investors Forum:
"As a long-time guest and presenter at the Contrary Investors Forum, undoubtedly you are somewhat familiar with the history of the event. Nonetheless, since you mention the Forum with some frequency in the Fullermoney Daily Commentary (and since I will be attending my first Forum this October), I thought you might wish to consider sharing with your subscribers this brief history excerpted from the free Cabot Wealth Advisory, Elyse Andrews, Ed.:
"It all started in 1963.
"That was the year Humphrey B. Neill hosted the first Contrary Opinion Forum in Manchester, Vermont. Humphrey, who styled himself "The Vermont Ruminator" had written a number of books on investing, including Tape Reading and Market Tactics (1931), Understanding American Business (1939), The Inside Story of the New York Stock Exchange (1950), The Art of Contrary Thinking(1954) and The Ruminator (1975). The Contrary Opinion Forum was a gathering at which he spoke and shared ideas--typically on the subject of investing--with open-minded and contrary-minded people.
"The Forums became an annual event, and soon Jim Fraser joined Humphrey as co-host. Jim ran a money management business in Burlington, Vermont, relying in part on contrary opinion to guide him into stocks of value and away from areas too heavily influenced by the crowd. But Jim was more than a money manager; he was also a dealer in old books (primarily books on investing) and he eventually came to republish many of them as Fraser Publishing Company.
"While I never knew Humphrey Neill (he passed away in 1977, and I attended my first Forum in 1986), I knew Jim Fraser well. A kind and wise independent thinker who found his own quiet road to success, he was notable for donning an old silk top hat at the Forum and honking a battered brass automobile horn to attract the crowd's attention and start the event rolling.
"Jim bowed out of the business after the turn of the millennium, and the book publishing business faded with him, but Fraser Management lives on under the guidance of Alex Seagle and Len Davenport and the Contrary Opinion Forum is still going strong.
It Pays to be Contrary
Attributed to Humphrey B. Neill, founder of the Contrary Opinion Forum. If you can be a buyer when everyone else is selling, and then be a seller when everyone else wants to buy, you'll be rich!
David Fuller's view I enjoy the Forum for its ambiance, interesting delegates and lack of commercial hype.
However my association only dates back to October 2008 - an interesting month in which to comment and my PowerPoint can be found in the 'Presentations' section shown in the menu upper left, ninth item down. I had to drop out of the Forum in 2009, due to a 'medical holiday', and was fortunate to be invited back in 2010 and also for this year. It is a nice opportunity for me to meet subscribers in a relaxed environment and I look forward to it.