Gorilla and King Portfolio Candidates Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Gorilla and King Portfolio Candidates

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: ggamer who wrote (35699)	11/30/2000 1:19:47 AM
From: Mike Buckley	Read Replies (1) of 54805

ggamer, Thanks for the nod and thanks for posting that piece. When I first saw it I almost posted it myself. But I figure that I probably harp about the value of long-term investing so much that sometimes I come on too strong. And at the risk of doing that ... I disagree that Warren Buffet's biggest strength is his ability to project cash flow. Charlie Munger revealed that Buffet has never run a discounted cash flow in his life. Buffet acknowledge it. Why doesn't he run them? Because Buffet has the discipline to wait around until he finds a company that the price of the stock is so far below the net present value of the cash flow that there's no need to physically run the calculation. In summary, it's not Buffet's ability to determine the present value of the cash flow, it's the discipline that he is so selective that he has a huge margin of error in case he is wrong. What if he is wrong? That brings up an even more important strength. His investment philosophy is better than "long term buy and hold." His is "buy and hold forever." That adds even more margin for error. --Mike Buckley

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next