"Buffett does not make his money on the markets. He takes control of companies and sets performance targets. He then uses their cash reserves for more acquisitions. This is why he buys insurance firms (which have free cash) & ignores tech stocks (which only have burn rates). Obviously this has nothing to do with trading/investing. Masses of people have been misled by all the hype claiming they can use his methods." a quote from a website of M. Covell written by a visitor Holds true now as ever.....
He bought and dumped Level 3 corp for a 100% profit in a few months. So I call that trading. If he's not using a computer, I'm sure he's getting information from someone somewhere that is using a computer.
that is actually only partly ( very small ) true. may i humbly suggest "trade like warren buffet" by james altucher for an indepth look at the sages methods. surfer
Why don't you explain or elaborate a little more in terms of a rebuttal? To be honest I will not read the book you've quoted. I have done some reading and research regarding Buffett and I can tell hype when I see one. I need no more info on him. I admire him as a person but I am smart enough to know that using his 'style' would be stupid and futile. I don not have 5 billion to work with!... Duhh..... He has started his methods early late 50's early 60's and initially his investment style was as stated in my post. Exclusively, period. He did not invest in a company he took controlling interest in most enterprises he bought and it would be very silly to try to refute that. Using majority control of companies if not investment in the sense - the most sheep who try to emulate Buffett thinks.
Nice to have a at least $100M in your "PERSONAL BROKERAGE ACCOUNT" LOL! Imagine that. Logging into IB, E-Trade, Fidelity and whip around a $100M, which Buffett considers too SMALL for Berkshire. A $100M is practically the size of many mid-sized hedge funds. Buffett is DA MAN. He likes to swing SIZE.
That may well be, and Im sure he regrets the large play, buy his other 5 trillion appreciated against the othe currencies. H E D G E. Look it up.
============= Fun read, wish he had defined '' exact numbers/false precision''; even though one can quess partly Respectfully disagree with calling him ''greatest investor'' its humbling didnt even make Jack Schwager, & Carl Ichan releases stock buys usually at a much more profitable time for common people. Also wouldnt believe[live, walk/talk] idea ''heavy on hamburger/softdrinks =always feel good'' Thats un- intelligent food design/junk Interesting read reguardless.
Warren Buffett ttbomk is the first to admit his mistakes and analysis them at great length. Only buys good companies @a cheap price. Only buys companies that he and Charlie Munger fully understand. prefers to avoid "wallstreet" and reside in Omaha. Does not use hi-tech methods (has trouble figuring the tip when he eats out). Greatest talent--keen eye for good people/managers to run his businesses. In recent years Warren has bent/broken a few of these but still remains Ben Graham embedded and shareholder loyal. Berkshire Hathaway shares were a bargain last summer but not cheap enough for me. btw: I'm not a Buffett head, I just keep an eye on what works and when.