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

To: I_C_Deadpeople who wrote (2863)	6/5/2001 5:29:29 PM
From: Moominoid	Respond to of 4691

I agree with your post. The thing is Buffett says he doesn't try to forecast the markets yet that is exactly what he does by selling when values are very high and buying when very low. And he gets the timing better than most. He also says he doesn't like to sell, but sell he does. Mutual fund managers usually have mandates to invest a certain minimum proportion in stocks, they can't raise cash too far or return capital to shareholders so you can't compare them to WEB. He was a hedge-fund manager (investment partnership) and then an aggressive insurance conglomerate. So he has to be compared to these. I suppose he did a lot better than other insurance companies but maybe not spectacularly better than other hedge funds, but maybe better than those in US stocks with no leverage and little shorting. David