The market is a place where people with money meet people with experience.
The people with experience get the money while people with money get experience!
The bottom line for Kass: "The average individual investor should
continue to err on the side of conservatism in a market that provides a
wonderful setting for trading but a not-so-exquisite setting for
investing."
Kass is sprinting. Buffett is running a marathon. Make sure you know which race you're in.
And make sure you have the suitable stamina.
Kass's bottom line: "All good things, it seems, in markets and life, must come to an end."
That's the unfortunate truth.
Life can only be understood backwards—but it must be lived forwards
Joined: 05/Aug/2006
Location: India
Online Status: Offline
Posts: 1371
Posted: 27/Jan/2009 at 9:23am
WB's worst performer is Bank of America. He purchased 87m shares of BofA @near 50 and it is now @7. Clearly this is worst time. Even WB had never had such a bad year or even close to it.
Very true. And if you dont have the stamina, then its better to stand on the sidelines and just watch the other runners go by, which is still far better than fainting due to exhaustion at the finish line!
Originally posted by kulman
And make sure you have the suitable stamina.
The market is a place where people with money meet people with experience.
The people with experience get the money while people with money get experience!
Joined: 02/Sep/2006
Location: India
Online Status: Offline
Posts: 9319
Posted: 28/Jan/2009 at 9:18am
Originally posted by investor
Very true. And if you dont have the stamina, then its better to stand on the sidelines and just watch the other runners go by, which is still far better than fainting due to exhaustion at the finish line!
Yes, right. Most market participants have incorrect notions about their own stamina.
Life can only be understood backwards—but it must be lived forwards
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