Watermarking, yea or nay?

I’ve been experimenting with iPad art apps and Adobe Premiere Elements 9 today. With this one I imported a photo (no attribution available, sorry) and then added art, and I also learned how to watermark using Adobe. I’m not sure of the value of watermarks because if someone really wants to steal your work, they can pretty easily remove them. I would like to hear everyone’s thoughts on this issue.

Digital portrait watermarked

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