How does Buffett do it?

Discussion in 'Trading' started by stockeroo, Jun 18, 2010.

  1. loza

    loza Guest

    like what? sitting on the beach? or travelling? most people are idle and stupid. Quitting for Buffett would be stupid. He is doing a service, as most of you would not understand but he made hundreds of thousands of people wealthy by doing what he does best. Why would he quit? Only a selfish ignoramus would do that!
    Most people get life from doing what they love and do best. Most retired people die prematurely becuase they flutter aimlessly, and with no purpose.
     
    #11     Jun 18, 2010
  2. You have a point. That's something I'd probably do, stop (impossible to say right now as I'm not in that situation).

    However, most people are instinctually greedy and don't stop, and eventually most of them fail to keep their money.

    Again, it goes back to my question of why Buffett has managed to survive.

    If I understood Baron correctly (considering Buffet did in the beginning truly invest in stocks and still does), is that Buffet treats investing like a business. If he wouldn't buy the business, why bother with the stock?

    No?
     
    #12     Jun 18, 2010
  3. achilles28

    achilles28

    Agreed. :p :D
     
    #13     Jun 18, 2010
  4. I respect them both. They played their hands differently but exceedingly well. While Soros may have generated a larger average annual return, Buffett's genius included his accumulation. Let's not disparage either gent. (As an added bonus, I admire their politics.)
     
    #14     Jun 18, 2010
  5. Not even with the most wild imagination did I imply that...
     
    #15     Jun 18, 2010
  6. Ghost, I'm not trying to be critical, just curious to try and learn, can you point me to actual evidence Soros used price action.

    And I agree w/ Gabfly, Soros would be part of those 5-10 incredible investors, so no need to argue which is best, they both did it. The question is why them and not everyone else, not who is better.
     
    #16     Jun 18, 2010
  7. Must be at least 1,000 such traders on ET alone... some even better, I'm sure.
     
    #17     Jun 18, 2010
  8. Daal

    Daal

    Buffett was levered long(through a insurance company) on a asset that rises about 10% a year during a bull market in the right country. We never hear about the Argentina buffett, or the Iceland buffett. I'm not to take anything away from his skills, hes a great stock picker, but thats only part of his secret
     
    #18     Jun 18, 2010
  9. Baron

    Baron ET Founder

    If you really want to get a feel for how Buffet got started and what he did along the way, I suggest you read "The Snowball".
     
    #19     Jun 18, 2010
  10. Great book. Even better than Lowenstein's excellent Buffett: The Making of an American Capitalist.
     
    #20     Jun 18, 2010