Warren Buffet's The Fool and the Wise Man

Discussion in 'Economics' started by eagle488, Oct 12, 2006.

  1. "What the wise man does at the beginning the fool does at the end, Once a price history develops enough for other people to see it and get envious, that takes over markets. We're seeing that some areas of the commodity markets.

    At the start of the party, the punch is flowing and everything's going well, but you know at midnight it's all going to turn into pumpkins and mice, People think they'll be able to get out just before midnight, but everyone else thinks that too.

    The problem is that, in commodities there are no clocks on the wall. . ."