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

To: john harris who wrote (2455)	11/15/1997 6:33:00 PM
From: James Clarke	Read Replies (1) \| Respond to of 78627

You're too kind to the academic profession. They dismiss Buffett with the argument that the market is efficient. If we took a million monkey and had them invest in stocks, one would have Buffett's "track record". Laughable, isn't it. As for investors, I think the smart ones understand Buffett. Some others think they do, but it is only an uninformed characiture. Other investors are contemptuous, whether out of jealously or ignorance. They fault him for not sticking to the value style, and they think he is just lucky. I have read his chairman's letters many times, cover to cover, and I think the man is a genius. He doesn't spout academic wisdom or investment wisdom. His ideas are his own, and if some of them sound like conventional wisdom now, its only because Buffett has been so successful and influential. But he is still misunderstood by many who should know better.