Quote from coolice:
Where did he save the 100k from? Shoeshining?
He is a son of a filthy rich investment expert and congressman just like Trump was born into money and connection.
Buffet is a simple guy buying the best of breed in industries with high barrier to entry. Trading the Business cycle. Buy s low and sells high.Just look at how much the mkt went up since 1952. By exluding the garbadge stocks average down on BNI on its cycle down + spice it up with some growth stocks whenever the cycle benefits the growth theme and sellit when thetrade gets crowded.
In addition explain yourself that you dont care about short term
so none ever can blame you for when GS moves against you 50%.The big secret is simplicity. Virtually unlimited buying power
unlimited time horizon and unbeateable highbarrier to entry stocks beaten down by the current business cycle ( monetary environment ..recession-inflation wave).
If you recall back then in 2000+ he said he did not understand th einternet stocks...well he did....most of them collapsed.....Now he could buy AMZN the best only retailer on dips...that is all....
But just check out his portfolio components... and follow the sells and buys according to the business cycle
(I can do it ...and you can do it...)