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Re: gfp927z post# 1947

Wednesday, 09/13/2023 10:47:31 AM

Wednesday, September 13, 2023 10:47:31 AM

Post# of 2153
Munger has scolded Buffett for trading too much. He did that publicly at the BRK SHM two years ago I think, and in front of 40,000 shareholders. Closest thing I've seen to a public disagreement between them. That was when Buffett bought those four airlines and dumped them at a loss almost immediately with arrival of Covid in 2020. Buffett later explained his quick change of opinion. Like everything Buffett does, the move was rational and not based on a whim or hunch or because some Canadian penny stock caught his eye.

Standard Oil -- Exxon -- certainly qualifies as a stupendous Buy and Hold for decades. XOM was $6 in 1985 and is now $117, plus the fat dividends. Chevron has performed about the same.

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