So I was looking over General Mills'
The problem with buying stocks of companies that aren't growing is that you can't be wrong about them. As we discussed yesterday with InterActive Corp
In other words, you can be wrong about fair value and still not be off by more than a few quarters.
Start with the industries that you're interested in. If you like solid online businesses such as Google and eBay, wait for them to make a mistake and try to buy the stock on the cheap(er). If you're into video games, look at Motley Fool Stock Advisor picks Electronic Arts
If you're having trouble coming up with ideas, you might try out David Gardner's new newsletter.
The one drawback to this approach is that you are less likely to find deep values. Just be patient, keep valuation in mind, and be ready to pounce when you find a good opportunity, and the time you spend on your investments can be both intelligent and exciting.
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Fool contributor Jeff Hwang owns shares of InterActive Corp, eBay, and Electronic Arts.