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Re: gfp927z post# 120

Friday, 12/08/2023 12:24:24 AM

Friday, December 08, 2023 12:24:24 AM

Post# of 129
No one would doubt luck plays a role in success or failure. In 2010 my kids had quite a bit of money, but most of it was sitting in cash and some bond funds, some in SPY and a very few individual stocks. That year I added more of their money to SPY and a small amount to DIA (the sleepy Dow 30 index fund). At the last moment, I threw in some QQQ to add some "sizzle" to their portfolio and became a genius in the kids' eyes. Where I differed from most IHUBbers is I never traded any of those funds. QQQ did have a few sharp downturns, but I held.

No doubt the financial press loves Buffett and Munger, but luck played a gigantic role in their success in the form of just one stock... GEICO. WB first bought shares in 1951 when he was just 20 years old! GEICO had some painful downturns, but Buffett stuck with it. BRK owned 100% of GEICO by 1996. The success of GEICO also convinced Buffett to acquire other insurance operations.

I looked at several mid cap index funds and spotted slight differences among them, however selecting IJH was luck. If the stock market had collapsed, IJH may have turned out to be the worst of the lot.

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