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Posted by HW \"Skip\" Weldon on June 21, 2008, 11:32 am
wrote:
>Legendary Investor Warren Buffett once advised, "Be greedy when others
>are fearful." Graham taught Buffett to ignore the markets and focus upon
buying the
>underlying worth of the stock. Buying stocks below their book value
>and having a margin of safety were key Graham investing themes.
One thing that has always puzzled me: If Buffett's methodology works
so well, how come there's only one Buffett?
-HW "Skip" Weldon
Columbia, SC
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Posted by Will Trice on June 21, 2008, 6:06 pm
HW "Skip" Weldon wrote:
> One thing that has always puzzled me: If Buffett's methodology works
> so well, how come there's only one Buffett?
An excellent question. Buffett claims that there are many other
successful investors like himself in his appendix to the 2003 revised
edition of _The Intelligent Investor_. He gives details on nine of
these folks. Obviously none of them have risen to his leavel of wealth,
but then someone had to be the best, right? Buffett's outlandish
success may be more about his ability to run a business rather than his
investing success as pointed out by Don.
-Will
william dot trice at ngc dot com
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Posted by HW \"Skip\" Weldon on June 21, 2008, 6:52 pm
On Sat, 21 Jun 2008 17:06:31 -0500, Will Trice
>> One thing that has always puzzled me: If Buffett's methodology works
>> so well, how come there's only one Buffett?
>
> Buffett's outlandish
>success may be more about his ability to run a business rather than his
>investing success as pointed out by Don.
My conclusion as well. But since you and I agree on this issue,
perhaps I should revisit my conclusion. <grin>
-HW "Skip" Weldon
Columbia, SC
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Posted by Will Trice on June 21, 2008, 8:01 pm
HW "Skip" Weldon wrote:
> My conclusion as well. But since you and I agree on this issue,
> perhaps I should revisit my conclusion. <grin>
Oh, now that's harsh. :)
-Will
william dot trice at ngc dot com
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Posted by Don on June 21, 2008, 6:43 pm
> For what it's worth, an article in the 8/7/07 _U.S. News & World
> Report_, "Built to Make Billions?", quotes a study that concluded that
> Buffett's investment record cannot be due to chance alone.
Well, yes, that is probably true. He could not have done it without
talent and knowledge, as well as hard work and study. I would be
inclined to say that what is due to chance is his number one rank in
being way out ahead of many other investors who are equally talented.
In other words, I doubt if Buffett possesses any unique talent, or
magic, or special ability to make accurate predictions about the future
not possessed by many other investors.
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