Yeah VERY impressed:
So just HOW do you do the" ± ???
So just HOW do you do the" ± ???
shares over property,now.
- Thread starter bbruham
- Start date
Tony,
Yeah, I read the Warren Buffett Portfolio also. Not bad, not great. Have you read Buffettology though? I reckon it shoots both books out of the water, even though I think The Warren Buffett Way is an excellent book. The New Buffettology has just recently been released, I'm planning on getting that next.
Mark
'no hat, some cattle'
Yeah, I read the Warren Buffett Portfolio also. Not bad, not great. Have you read Buffettology though? I reckon it shoots both books out of the water, even though I think The Warren Buffett Way is an excellent book. The New Buffettology has just recently been released, I'm planning on getting that next.
Mark
'no hat, some cattle'
Just to clarify. I don't think Warren Buffett is a four sigma event, just a very intelligent investor with a lot of common sense who used the market's fear and greed factors to his advantage and made a lot of money.
Mark
'no hat, some cattle'
Mark
'no hat, some cattle'
Hi
Warren Buffet comments are often quoted, and in this thread several times, and his success over 50 years of investing is most likely the reason.
But last night's news, 5March 2003, quoted him as saying that in all the 50 years of investing, he has now reached a position where he cannot find any stock in which he currently has sufficient confidence to invest.
I would only consider myself as a very small player in this business and I cannot but nod sagely and accept the comments of Warren Buffet.
Regards
Warren Buffet comments are often quoted, and in this thread several times, and his success over 50 years of investing is most likely the reason.
But last night's news, 5March 2003, quoted him as saying that in all the 50 years of investing, he has now reached a position where he cannot find any stock in which he currently has sufficient confidence to invest.
I would only consider myself as a very small player in this business and I cannot but nod sagely and accept the comments of Warren Buffet.
Regards
Hi Mark,
I've only read the 'Portfolio' book written by Hagstrom. Read it years ago. Soon after I focussed on property & property books, and now I barely glance at my friend's shares and options books piled up next to my bed.
I got a fair bit out of the 'Portfolio' book though since it was the only Buffett book I'd read. It turned me off managed funds immediately once I saw the difference in returns of 'value investing' vs 'risk minimisation via diversification'.
Thanks for the tip on Buffettology.
cheers, Tony
I believe I've also read similar comments from him sometime over the past year, but there is a critical difference between us (as very small players) and Warren Buffet.
Quite simply the size of his potential investments makes it extremely difficult to find new stocks in a way that doesn't limit us as far smaller investors. Buffet is not going to consider getting into a stock unless he can acquire significant interest AND it fits his criteria.
btw, he may have said that on 5 March, but on 11 Feb BerkshireHathaway acquired a company called Burlington for $US580m. What was it Dolf Deroos says about the deal of a lifetime.... Looks like even for Warren Buffet that they come along a little more often than once in a life.
btw² The Berkshire Hathaway site keeps al lot of Buffet's letters to the shareholders available on the website at
http://www.berkshirehathaway.com/letters/letters.html
Cheers,
Luke
Hi
It is not always easy to know the true meaning of the statement attributed to Warren Buffett in the news report.
He has also recently stated in his last written report to his members that they are in a position to only be able to buy elephants and there are limited numbers of elephants roaming around.
So he can only buy big.
But if he was correctly quoted in the news report, he stated that in looking at the stock market today, he was disappointed to note that there were not any stocks that he felt confident in, rather than there were not any stocks that felt confident he could purchase.
I interpreted this to mean that size was not the issue but rather the quality and value of the stock on today's low and continuing to decline (US) market. He went on to say that the bottom was not yet clear and he preferred to stay away.
It was the auther, whose name I do not recall, who wrote the book about his "Father Thinking he Robbed Banks" who said, "those who scratch around the bottom only end up with smelly fingers".
I interpret all this to mean that now is not the time to invest in the stock market. Others know more than I in this matter.
Regards
Ross
It is not always easy to know the true meaning of the statement attributed to Warren Buffett in the news report.
He has also recently stated in his last written report to his members that they are in a position to only be able to buy elephants and there are limited numbers of elephants roaming around.
So he can only buy big.
But if he was correctly quoted in the news report, he stated that in looking at the stock market today, he was disappointed to note that there were not any stocks that he felt confident in, rather than there were not any stocks that felt confident he could purchase.
I interpreted this to mean that size was not the issue but rather the quality and value of the stock on today's low and continuing to decline (US) market. He went on to say that the bottom was not yet clear and he preferred to stay away.
It was the auther, whose name I do not recall, who wrote the book about his "Father Thinking he Robbed Banks" who said, "those who scratch around the bottom only end up with smelly fingers".
I interpret all this to mean that now is not the time to invest in the stock market. Others know more than I in this matter.
Regards
Ross
hi all, came across this little piece, hope it helps you wizards
http://www.moneymanager.com.au/articles/2003/03/03/1046540113786.html
Oops forgot to paste this one
http://moneymanager.com.au/articles/2003/02/18/1045330592810.html
http://www.moneymanager.com.au/articles/2003/03/03/1046540113786.html
Oops
forgot to paste this onehttp://moneymanager.com.au/articles/2003/02/18/1045330592810.html
Last edited:
Hmmmmm,
I've hardly credited them either
TLS does pay good dividends, but I am not much in favour of any quasi government company. They tend to make 'non-business' decisions to keep their political masters happy. Hardly a great endorsement for the balance sheet. At this point in time the TLS management falls foul of my '5 years of sound management decisions' criterion.
Regards,
Steve
Hi all,
Back to the original post for a moment...
Hi Bruce,
Whats to say that shares wont fall further?
Since you made the post (shares at an all time low), both TLS and AMP have fallen further... while well chosen property has remained steady or risen in value...
Any further thoughts since your first swipe?
Jamie
How many examples are there of shares whose value has gone from $5-10 per share and then ended up at zero...
Now how many residential investment properties have done the same...
Back to the original post for a moment...
Hi Bruce,
Whats to say that shares wont fall further?
Since you made the post (shares at an all time low), both TLS and AMP have fallen further... while well chosen property has remained steady or risen in value...
Any further thoughts since your first swipe?
Jamie
How many examples are there of shares whose value has gone from $5-10 per share and then ended up at zero...
Now how many residential investment properties have done the same...
Seems we are back on the old debate:
Which foot is better when running the 100 meters??
Why on earth would you attempt to run a portfolio with only one foot then?
Steve
Which foot is better when running the 100 meters??
Why on earth would you attempt to run a portfolio with only one foot then?
Steve
Now we're talking turkey!
Seems Mr. Turkey's in the 4-legged race
Seems Mr. Turkey's in the 4-legged race
Hi all (and esp. Steve )
I agree, a balanced portfolio of shares, property and cash should win out in the long run (after all, I have been to Steve's seminar )
My point was with bbruhams first post around two weeks ago...
He said that shares were at an all time low (and mentioned TLS and AMP). Now both shares have fallen since... so obviously they are NOW AT AN ALL TIME LOW
So Bruce... when is the time to buy? Anyone who had bought when you recommended the market 2 weeks ago would have lost money at the moment... ( in the short term of course...)
Mr Turkey, you make a very valid point... my only real point was that shares can fall to zero... residential property cannot.
As always, I will defer to Steve...
Best wishes,
The Devils Advocate
)I agree, a balanced portfolio of shares, property and cash should win out in the long run (after all, I have been to Steve's seminar
)My point was with bbruhams first post around two weeks ago...
He said that shares were at an all time low (and mentioned TLS and AMP). Now both shares have fallen since... so obviously they are NOW AT AN ALL TIME LOW
So Bruce... when is the time to buy? Anyone who had bought when you recommended the market 2 weeks ago would have lost money at the moment... ( in the short term of course...)
Mr Turkey, you make a very valid point... my only real point was that shares can fall to zero... residential property cannot.
As always, I will defer to Steve...
Best wishes,
The Devils Advocate
QUOTE OF THE WEEK!!
Picking the bottom / top of the market is like trying to find a black cat in a dark room; especially when there is no cat!
You can never know if it is the bottom of the market. (Unless you are a genuine psychic; like most stockbrokers claim to be)
The answer perhaps lies in buying through the low.
Meaning that you buy and continue to buy as the market declines. After all, the share is getting cheaper and even cheaper . . . now isn't that just so logical?
When the market turns, then you would have bought the majority of the share at around and about the bottom
What happens if the share NEVER recovers????
Answer: Your fundamentals were faulted; DON'T BUY SHARES THAT CAN GO BELLY UP ON YOU
Regards,
Steve
Picking the bottom / top of the market is like trying to find a black cat in a dark room; especially when there is no cat!
You can never know if it is the bottom of the market. (Unless you are a genuine psychic; like most stockbrokers claim to be)
The answer perhaps lies in buying through the low.
Meaning that you buy and continue to buy as the market declines. After all, the share is getting cheaper and even cheaper . . . now isn't that just so logical?
When the market turns, then you would have bought the majority of the share at around and about the bottom
What happens if the share NEVER recovers????
Answer: Your fundamentals were faulted; DON'T BUY SHARES THAT CAN GO BELLY UP ON YOU
Regards,
Steve
