SPY opened 279 closed 283+
Was even more pronounced if you count the pre market weakness.
Nice try though Jerkoff
Warren Buffett is more worried than usual
- Thread starter ajacobson
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Was even more pronounced if you count the pre market weakness.
Nice try though Jerkoff
I think that's because he is a value investor. There was no value in these companies past a certain price. The stock prices going up was the result of share buybacks.
I think in his time, the market made more sense and was based on fundamentals. Now, those fundamentals have changed. Its more so about the FED than it is about the structure of the company. I can understand how its difficult to pivot to this new way of thinking.
%%I am surprised that he got into them at first place, since he mentioned about reading the Security Analysis by his teacher B.G, for few times, and it's written in there that air lines are among the most risky ones.
It's not that he is running out of skill, it's more about him running out of the options/choices at the current size.
Based on his approach, there's plenty of small caps to do that which he used to do for years, yet, at that age, to bring such burden upon yourself and without the expertise in those low caps, - not wise.
If the FAANG is dictating the show, we ain't gonna see that 50% - 80% crash , any time soon. The whole world is hungry for good and safe investments (since returns on bonds are non existing), and they jump in, whenever a chance shows up.
(like Norway with it's $1T retirement fund...)
Interesting times.
Yet, as long as one is good at reading those balance sheets, and finding extraordinary irrationalities at pricing, in low caps(or not), - he will be fine
Even if not, BITCOIN IS GOING TO 1 MIL !!!
(no it's not, people, please don't buy that trash)
p.s
Which warning, probably missed ?
His warning- he had done so well, so long, don't exsect that in the future=trees never grow to the moon nor do funds...……………………………………………………………………………………………………………………….Amazing how few beat SPY/S+P 500, over 10 years
I hear what you're saying and you have a point - but go tell that to the pension fund or endowment manager. Growth clearly beat Value the past decade.
okay, we'll use your favorable calculation. 1.4% is still considered rallying hard? that's not even the implied vol of the SPX.
Nice try though Jerkoff.
He maybe too old, too yesterday, too slow, too conservative, too... but is still a better investor/trader and a little richer than I.
And a little richer than some of you?
He maybe too old, too yesterday, too slow, too conservative, too... but is still a better investor/trader and a little richer than I.
And a little richer than some of you?
The book value of Berkshire increased by about 11% CAGR over 9 years ending 12/31/19. The SPX returned 13% including dividends. Except that Berkshire didn't benefit from P/E expansion as much (as only their public holders get marked to market) nor from those new fangled growth stocks that ruled the market that Warren was too senile to invest in.
He also generated enough cash in that period that he can buy most of Netflix (the "N" in FANG).
But he has no street cred because he bought some airline stocks after there was massive consolidation and pricing power dynamics had changed.
Every trader and investor gets things wrong. Unlike you, I’m sure.