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

To: Paul Senior who wrote (2981)	1/29/2002 5:17:32 PM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 4691

Paul, I totally disagree with your strategy. The biggest question is: when to sell? You may answer that Buffett says: "Never". Yet he sold. He sold Wells Fargo, Disney, and Dun and Bradstreet. Would you follow him? If so, how? How would you know when he sells? What would you do if he sells part of his position? What would you do if stock goes lower but he does not add? What would you do if he does add? Second argument: the strategy may have performed quite well some time ago, but then you could have bought BRK and done better. It is not clear that this approach will work going forward, since Buffett is not buying much, there is a lot of Geico "not Buffett" buying for BRK, and Buffett is mostly buying whole companies. The investments may become quite small percentage of BRK. What would you do? Finally, I would not use a mechanical approach - even such as buying Buffett's buys. Jurgis - not for me

To: Paul Senior who wrote (2981)	1/30/2002 3:11:43 AM
From: Stock Farmer	Read Replies (1) \| Respond to of 4691

Paul - It's not like the guy publishes his trades on SI, and by the time you've read of his moves you're kinda far back in the do-like-he-does queue. So the strategy you recommend is likely to perform quite a bit differently from what he achieves. It would be counterintuitive indeed to suspect that it would be different to the upside. So if you advocate buying & selling with Buffett, then wouldn't it just be much better to buy BRKA and be done with it? The idea of trapseing around after some guru aping his every move on faith and without understanding the motivation... well, that doesn't tickle my fancy