Maybe those prices are sometimes different, but not always. I was able to pick up GCI (2nd Q '00 purchase, reported 8/15/00) which traded below his reported purchase price on the day of the media article, if I remember correctly. There was no pop in the stock price at the time. With others there was an immediate stock price jump, but I waited a bit, and I got some below his reported price.
As regards, "So the strategy you recommend is likely to perform quite a bit differently from what he achieves", yes and no. Yes, buying after Mr. Buffett and selling after him, means that results won't be as good as his, imo. And there's liable to be mistakes made in this process (missing some buying opportunities or failing to take advantage of them)that limit results. Still, the strategy has performed successfully in that it would've been profitable in past and seems to me to be profitable now. In my opinion, and without having any facts whatsoever for comparison, this strategy would be a least as good as any portfolio of picks suggested by anybody here who has proposed Buffett stocks or Buffett-type stocks to invest in. Plus, the strategy offers - for the people on this thread anyway - common ground. We may argue about anyone's stock pick as being a Buffett stock or not, but if we can ascertain from the media that Mr. Buffett bought a particular stock, well then there's 100% agreement -g-.
The strategy I'm suggesting (I make no recommendations - I'm too often too wrong for that) is to buy Buffett stocks at the price he buys them. He's not bought BRK, so this stock is not a buy. If I recall correctly, he was considering it in 2000, but did not buy. Several people here did buy then though, and it worked out for them as far as I can tell.
I'll just add one more for you all: OF COURSE this method of investing is not appealing!!!! You guys don't need to tell me that. :>) -- It's got a high shame factor as well, imo.
Still, the methodology might work in future as it seems to in past.
Paul Senior |
