Senior's Buffett story: I think you get a chance go with Buffett, but it's seldom. Last year, it was his rumored buying of zero coupon bonds. I didn't see how he'd make money there. Now I know -g-. Shame on me. In the early seventies, he was more talkative. A person could have followed him by reading an important Forbes article. It's possible in the '60's he may have been quoted in some business publications as a buyer of Am Ex during the vegetable oil scam that was supposed to have destroyed Am Ex. Mr. Buffett is a very secretive fellow though these most recent decades. But on very rare occasions he has slipped and has telegraphed or otherwise announced his purchases. This happens about once per decade IMO. And so in the '80's he inadvertently told us about a Big One he liked - a Monster it turned out (IMO). And I was there to catch it! I still own it, and I bet he does too. With growth by the company, and my confidence in it increasing as the years have passed, the stock valuation has come to dominate my portfolio. The funny part - both strange and LOL - I have never in all the time I've had this stock, seen it mentioned anywhere that Buffett was associated with having recommended it (except that first or second time when it was public information). Not ever mentioned in Berkshire Hathaway or his other portfolios, not mentioned in any of his biographies, and not ever showing up on any of the supposed valuation screens - repeat, on NO Buffett valuation screens. Absolutely amazing! (I alluded to this in a previous post here on Buffett screens - where I said either the people who develop the screens or I (or both -g-) don't have a clue as to what constitutes a Buffett stock.) Now you know why I laugh when I read these Buffett posts and see the alleged possible Buffett stocks.
But there's a lesson here too. Maybe my one and only real Buffett stock is overvalued now. Where there's one, there may be more. Those great new or different Buffett stocks are possibly still out there waiting for us. Buffett is going to get a hold of them, and so can we. Keep looking. Senior. |
