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Compare this to Mr. Buffett, who has been quoted as saying: "I never attempt to make money on the stock market. I buy on the assumption that they could close t
by AndyParkinson 16y ago
Compare this to Mr. Buffett, who has been quoted as saying:
"I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years."
Quite a contrast.
- wladimir 16y agoYes, his strategy is about the opposite. It relies on doing very good stock picking and then holding the stocks for a long time. I wonder if buy and hold is as good of a strategy now as it was back when he started. He had the luck to start at a time from which there was a decades-long growth in the stock market.
- AndyParkinson 16y agoIt is. Size is Buffett's anchor now. If you give him a small amount of money, say $50Million, I think he'd do wonders with it. I model my investing style after what he was doing about 10 years into his career and its worked out well for me with very little stress. The only reason I sell is if I find something that looks like a better value, but even if I'm right to move elsewhere the taxes make me question my decision every time.