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dougSF30

12/07/03 3:07 AM

#19811 RE: blauboad #19807

Buffet invests based on fundamentals. He looks for undervalued companies. He has no interest in TA voodoo. At all.

Doug
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chipguy

12/07/03 10:40 AM

#19828 RE: blauboad #19807

My point is, that for all that Warren Buffett has written and for all the books that claim to teach you how to invest like him, no one has been able to match him at his game. Whatever he's done right is just not fully reduceable to a limited set of rules. Now, it is certainly possible to infer rules from what he does, but they aren't the whole story--they won't make you him.

Take several thousand people and give each of them a
quarter and tell them to flip the coin ten times. Odds
are pretty good one of them will come up with ten heads
in a row while most people will get 4, 5, or 6 heads.

People praise the golden coin flipper dude and wish they
were him. In turn golden boy writes a book detailing "how"
he managed to flip 10 heads in a row - he has many theories
it is in the wrist, its what you think about just before
you flip etc. Yet of the hundreds of people who read the
book none are able to duplicate the feat. In the mean
time golden boy seems to be flipping as many many tails
as heads these days (*cough* Coca Cola *cough*) but people
don't pay much attention to that because he is fabulously
rich and they would much rather talk about the time he
flipped ten heads in a row.