Pingback: You Can’t Invest Like Buffett | Fiduciary Magazine()
your tv episodes are hilarious! keep up the good work.
You start off by saying he is miss understood, then you make a bunch of inaccurate statements about him.
Luck? No, he doesn’t have a 10 or 20 year record, but a 55 year record of excellence. He warned about the dot.com bubble, the overvalued stock market 10 years ago, and about the problems with derivatives.
You say he has had a bull market environment. He’s had a share of bear markets which he’s excelled, including the past 10 years. Early in his career he folded partnerships because he felt the market was overvalued. His record against the indexes is superior.
You say Buffett’s not buying Berkshire at these levels. Of course not, he already has 99% of his net worth in Berkshire, so he hasn’t bought in decades.
Random event? – No, he’s been right way too often for that conclusion.
Random luck does not necessarily care about 10, 20, or 55-year track records. One can be lucky for decades. A person needs to study causality, which is the whole point of this episode. I’m not saying he’s not talented…I’m saying Luck and Randomness have a lot to do with his success too.
I did not make any inaccurate statements about Buffett. You disagree with my points, but that does not make my points inaccurate.
I mention George Soros as also being very lucky too. You left him out of your comment, so my guess is you’re a fan of WB and the points I made were offensive to you.
Pingback: Nassim Taleb: Buffett Is Lucky – Soros Is Good | MartinKronicle()
Martin, you didn't mention about how Warren Buffet accumulated stocks overtime through the usage of dynamic hedging. I had a mentor who was a pit trader at the CBOE, and he said that Warren Buffet was the largest options trader. He doesn't actively traded the options itself, he managed his position through a dynamic hedging. One of the guy I know teaching this strategy, has accumulated wealth through the accumulation on SBUX, and BBBY 5 years back. Most retail investors don't know the existence of this strategy, but I can't agree with you that Warren Buffet was a lucky guy.
Get Free Lessons from Borish, Kaminksi, and Sperandeo.
Success! Now check your email to confirm your subscription.
There was an error submitting your subscription. Please try again.