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Strategies & Market Trends : Buffettology

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To: James Clarke who wrote (257)	8/29/1998 7:15:00 PM
From: cfimx	Read Replies (1) of 4690

james, how do you calculate G's buy point to be $30? I would be extremely surprised if it EVER sees $30. If it does, we are in deep doo do. Don't forget that WEB doesn't advocate waiting around for once in a lifetime buying opportunites that may never arrive. He believes one is on safe ground buying a great company at its calculated intrinsic value, or close to it. The further below the better. Once in a while he does get them 30% off or more (74-75). But he doesn't advocate waiting around for these huge discounts to value that happen to show up every 25 years or so. When you compare it to present interest rates, I think we're just about there with G. When he bought NFM, he didn't wait around until RB woke up one morning, and in a total lapse, decided to sell her furniture store for 30% below it's true value. He bought it for what it was WORTH. And she sold it for what it was worth. Time to look for Buffet businesses that are selling at or close to intrinsic value, not wait around and hope that they're suddenly marked down 25%.

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