Bob,
My post was in no way meant to slam you or your abilities.
I simply do not understand an 'investment' strategy based on shorting, precious metals and currency swaps. I also have a great deal of respect for Warren Buffet and consume every word as it relates to the master. I have never seen Buffet play these type of games with his investment portfolio. Buffett owns the likes of AXP, KO, G, WFC, WPO and HRB. He doesn't own gold, yen, euros, foreign bonds and is not short stock. You state that Buffet's success doesn't rely on strategies that I employ. Does his success reside in strategies that you employ?
As for the stated intent of your letter, to share insight amongst friends who may find them helpful. What good is it to continuously have positive reinforcement from the same subset? One of the best ways to improve is to receive constructive criticism. If I wanted people to slap me on the back, I would post on some daytrader thread. Instead, I reside on the CFZ because I am philosophically aligned with most. As such, I constantly and deliberately expose myself to criticism for my trading, particularly when I go long. This is purposeful because I want to learn and improve.
I want you to make money. I want you to be happy. As such, I found your writings to be dogmatic. In equities, my experience says that will lose money for you.
Apologies if my style offended you. My intent was to offer an observation that may help. Even Buffet knows that the default move for the capital markets is up. Long term investment strategies that are based solely on bear market tactics will not make money...emphasis on long-term |
