"so far if we make exception of his avoidance of tech in the 90's Buffet hasn't made any big mistake." I've read similar statements about jim rogers.I am sure both of them has missed other major moves besides tech. it's irrelevant.there are plenty of big opportunities to make money in markets. both rogers and buffett made good money in the nineties. what both of them did very well was to find good entry points for long cyclical plays.
Even if you are super bearish the market is so oversold that I dont see the reason trying to play from the short side. at some point the redemptions and margin calls are going to end.
I have been buying select stocks at these levels for my long-term investment account, yes. Still, I'm a trader first & foremost, whereas Buffett is 100% business owner/investor.
I don't think Buffett is long for a trade. He's investing - which has nothing whatsoever to do with trading.
Same here, its pretty obvious who has no long term money to have to worry about here. I'm just starting to average into China at these levels, slow,patiently and not taking too big of a bite. This just in across the reuters newswire...the market isn't going to go to zero and the S&P will break its all time high at some point in the future..duh.
Notice that triangle forming at the end of price in the indexes. 75% chance of further depreciation, 25% chance at a reversal.
You raise an interesting question. If one is "first and foremost a trader", regardless of their net worth, would that not imply that most of his/her capital would be in trading accounts vs investment accounts? That would seem to me the logical inference. In my case it's not a question of not having "long term money", just that I've had miserable returns with the buy and holds, vs trading, which I feel I have some grasp of (on most days).