Replies to post #267721 on SwingTrade Member Forum (SWING)

[Steady_T]

I think you point is well taken re. generating wealth vs preserving wealth.

Warren Buffet says his holding period is forever for companies that he buys.

That is not to say that he doesn't do deals that he is out of in a few months. His investments during the recent meltdown are a good example of that.

I think that PFHO is one of those companies that the holding period should be very long.

[investorone]

That is hands down (post 267721) one of the best posts in any board that I have ever read.

[Rawnoc]

My dad was told by a wealth manager that he never saw anyone get rich on penny stocks.

I'm sure he was a good man, but Warren Buffett got rich off of penny stocks. It was only when the money he was managing become too large that he stopped investing in them.

I am VERY slowly reading his biography entitled The Snowball Effect. Fascinating read. Some stocks were so illiquid that he had to literally show up at the doorstep of people who owned them and negotiate a price.

[mauiguy2]

Nice post. Very thought provoking.