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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (90702)4/21/2001 11:40:59 AM
From: Thomas M.  Read Replies (2) of 132070
 
The characterization offered in the book is that Buffett is extremely sentimental. He clings to what is familiar. Examples include his diet of Colas and burgers, and the fact that he still lives in his birthplace of Omaha. This is manifested in his investing style - he hates to part with a stock. Even though he is notoriously cheap, he doesn't sell unless something gets tremendously overvalued. One advantage this has given him is that companies are more willing to accept a buyout from him since they know he will bring stability. Personally, I prefer the Burke philosophy, that selling right is as important as buying right. My only major stock is SEPR, and I sold half at 125 last spring, and bought it back recently at 26. Needless to say, I will be framing those confirmation slips to show my grandkids. -g- Different strokes for different folks . . .

Tom
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