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Strategies & Market Trends : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: HeyRainier who wrote (723)	4/23/1998 9:49:00 AM
From: D. K. G.	Respond to of 1720

[ Warren Buffet Maxim ] A nice article on Warren Buffet in May's issue of Smartmoney by Roger Lowenstein. I am an avid reader of both gentlemen. This is in regard to his more recent plays in silver and the quest for value. An important Pt. in todays markets. Excerpt: Think, for a moment, of the discipline required to follow an asset for 30 years before saying yes. All along, we can be sure that he has been studying countless other stocks and sundry assets, most of which he can never buy. Buffet's approach is to invest in only the best - or at least, the best he can spot. It's the exact opposite of the au courant catechism that urges a certain amount in small stocks, a portion overseas, this in textiles, that in tech,a touch of pharmaceuticals, and a bit here or there simply because one is underweighted. It's the difference between owning silver all the time and owning it only after an eight year stretch of dwindling supplies. It's also why buffet never ceases to surprise. As he remarked to Forbes in 1974, in investing, unlike in baseball, you never have to swing. " All day you wait for a pitch you like; then when the fielders are asleep, you step up and hit it."