To: ViperChick Secret Agent 006.9 who wrote (5732 ) 5/5/1998 1:10:00 PM From: Robert Pope Read Replies (1) | Respond to
But you don't agree with Buffett, Lisa. Buffet buys and holds for the long term. Always. Thats what he says in every article, every book. Even that last net article. Buys and holds, buys and holds. For the long term.... So you see, you don't agree with him, even though you think you do. What Buffett doesn't do is buy stocks he doesn't understand. He claims to not understand the Internet. He knows about See's Candies, furniture stores and insurance companies. I'm a Web site designer by trade: I feel like I know about the Web and Internet and not furniture stores, so I invest in what I know. I can guarantee you one thing - Buffett will own Internet stocks because every holding he has will eventually have a WWW site and be involved in considerable e-commerce. He'll be in Internet stocks very soon, albeit in the backdoor through his existing companies. Its not like Buffett will disallow any of his companies from building a WWW site and conducting e-commerce. Besides, thats another thing that makes me lick my chops about these companies - many top investors, managers and individuals have never bought an interent stock yet! I know really bright, really rich investment pros who aren't on the net yet personally! They have no idea about YHOO, NSCP, SEEK, etc. Blows my mind to think of how many have never logged onto the Web or know what a search engine is yet.... To think of all that potential upside. All these new people clamoring to get a piece of the pie eventually. I can sit tight until that time. So, follow the Buffett rule: invest in stocks you know very well and buy and hold for the long term. Why do you think Berkshire has never split? Buffett discourages day traders and only wants long-term investors in his company. Best of luck to all....
