Michael Murray: I seek out value, as opposed to instant growth. That's why I bought some shares in Bank of Ireland last week

Last week, I referred to people's emotional attachment to bricks and mortar - and their often sniffy disinterest in holding shares in a company, even if it might be a potentially much better alternative for riding the property cycle than owning a property directly.

But there is another somewhat irrational and emotional approach that some investors take - an approach that is neither value-based nor growth-based. It is emotion-based. This results in people ...