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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (104)3/23/1998 1:05:00 PM
From: porcupine --''''>  Read Replies (1) of 1722
 
Does Buffett practice the concentration he preaches?

A reader writes:

> I believe Buffet when he claims to prefer concentration. But it has
> been an extremely long time since he has been concentrated. Shoes,
> jewelry, candy, furniture, insurance, newspaper, and a bunch more
> businesses, plus common stocks. I don't see as he has much choice,
> but we should acknowledge that for Buffett, the concentration thing
> philosophy, not practice.

Buffett's reply is that his entire personal wealth is invested in a
single stock. Even if viewed as a closed end fund, a view he
vigorously argues against in the current BRK letter to shareholders,
I don't know many investors who have their entire portfolio in a
single fund.
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