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Strategies & Market Trends : Buffettology -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (1636)	7/1/1999 11:39:00 PM
From: Shane M	Read Replies (1) \| Respond to of 4691

Bob, Was this a recent quote? Just curious. 50% guaranteed.? Shane

To: Bob Rudd who wrote (1636)	7/1/1999 11:58:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 4691

I'm shouldn't doubt Buffett that he could do it. He deserves better than that. And he knows it. Thing is, he didn't do 50%/year in the 50's and 60's. He did good, but not that good. He says we should see the numbers. Doesn't he realize we all have? His best partnership years were 1968 (58.8 vs 7.7 for DJIA) and 1965 (47.2 vs 14.2 for the DJIA). He compounded at a 29.5% annual rate. The limited partners got 23.8 compounded. At Berkshire, he's had a single 50% year in 30 years. I love this quote too: "Our approach is very much profiting from lack of change rather than from change." But it tells me he may have real difficulty ever finding large cap company stocks to buy in the future. I wouldn't be surprised if he spends his money on another single large acquisition rather than stock, because all the super-big cap stocks now seem to be about change. And if they aren't, then they're well-recognized for being the Buffett-stocks that they are, and probably will forever be accorded high valuations. Mike