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

To: Michael Burry who wrote (2066)	1/1/2000 11:10:00 PM
From: cfimx	Read Replies (1) \| Respond to of 4691

>>Isn't the idea to root for lower prices once a great business has been identified?<< only if you got money...<g>

To: Michael Burry who wrote (2066)	1/1/2000 11:43:00 PM
From: Wright Sullivan	Read Replies (1) \| Respond to of 4691

Aw geez, Mike, relax. It's only natural for folks to cheer a price jump right after they bought. It gives the feeling not only of a good purchase, but also that elusive well-timed purchase. And, no, the idea is not necessarily to root for lower prices once a great business has been identified. That would only be true if you are a BUYER. Perhaps you've bought your limit (say, a double position or whatever one's limit might be set at). In that case, you'd root for higher prices. It all depends on one's approach and one's financial situation. You don't do yourself any credit by making a snide comment about people "cheering a <1hr rise". Hmmm, I see four s.i. posts since the rise, only two of which were positive (the other two were about market manipulation). Pretty lame basis for an inference on the "people here". Oh, I see that this even extends to "others who are investing in BRK". I've had my laugh for the day--BRK sentiment is now measured on...Silicon Investor??? Having said all that, your point on lower prices is valid for buyers. I generally love it when my stocks drop, because I only buy businesses that I feel very certain are good values at the purchase price, and that I understand thoroughly. I move so slowly that I generally need the extra buying opportunity, too. But praising a price drop drives people nuts, especially on places like the Yahoo boards, where they don't understand that prices which are irrationally low represent an opportunity and not a curse. Markets are funny things. But don't make the mistake of thinking you have identified the true horizon of BRK holders. You don't know us. We're a patient bunch. We don't pay much attention to Mr. Market, and we'll probably pay less attention to you now.