Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (90701)	4/21/2001 9:47:00 AM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

Thomas, the two times Warren lowered his equity exposure tremendously are the times that Wall Street never mentions when they talk about his terrific performance. If you were to ask the average Warren fan, they would probably say that da Sage of Cornhuskerdom is fully invested nearly all of the time and holds for the long haul. However, the real worker bee of his performance has been bailing smartly a couple of times. Now, this misperception does not come from Buffett himself. It comes from those who have a vested interest in investors becoming permabulls and never selling. But I find it funny how the reality gets warped over time as the myth grows. As a personal note, I also believed that he was a buy and holder forever, and could never understand how he got anywhere close to his returns with such a flawed concept. But, truth is, he is buy and hold for a very long time, but not when it is really stupid to do so. And, I'll bet if we could get him a bit tipsy, he would admit that he should have sold more in advance of the 2001 decline, even though it was minor in the large cap stuff he owns.