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Pastimes : John Dessauer's Investors World
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To: psyched who wrote (1804)10/30/1998 9:37:00 AM
From: DWB   of 2346
 
Psyched,

The statement from Warren Buffet didn't compare him and JD... Warren is one of the greatest investing minds of all time. The reason I included that was to show Ralph that Warren thinks holding stocks for a long time is a good idea. He doesn't panic when a short term drop occurs. He doesn't invest all his money on 1 or 2 speculative stocks, but instead diversifies. He doesn't invest money today that he'll need in 2 months to pay his short term debts, and he takes advantage of dips in stocks to buy more. He also doesn't cry about his few (very few in his case) mistakes.

My pointing out his winners for the past 3 years is no less specious (sp) than Ralph's using even fewer losers to try and argue the other side. If the average stock has dropped 40-50% on NASDAQ, and 10-20% for large caps, my guess is he's underperformed, but not by the excessive amounts people keep portraying. Of course, we're all just guessing at the relative amounts, since nobody has crunched any numbers to date for this year.

DWB
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