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

To: jhg_in_kc who wrote (938)	1/4/1999 4:59:00 PM
From: Beltropolis Boy	Respond to of 4691

>I am beginning to get the hang of this Buffetfology, that is, Buffettology as taught in the gospel of James, particularly in the parable of the owl and the gorilla. while we're off-topic, i think this fable is rather poignantly applicable at the moment. (directed at no one in particular lest i have to don my flame-retardant vest.) ----- The Camel That Shat in the River (One of over 100 Aesop's Fables never before translated into English, until now) A camel was crossing a swiftly flowing river. He shat and immediately saw his own dung floating in front of him, carried by the rapidity of the current. "What is that there?" he asked himself. "That which was behind me I now see pass in front of me." ----- this applies to a situation where the rabble and the idiots hold sway rather than the eminent and the sensible.

To: jhg_in_kc who wrote (938)	1/4/1999 7:40:00 PM
From: James Clarke	Read Replies (2) \| Respond to of 4691

I heartily congratulate jhg on finally understanding Buffett investing, though he doesn't know how much he understands it because now he is ridiculing Buffett himself. Not personally, Buffett made him money. But basically the last post ridicules HOW Buffett made him money. Substitute "Warren" for "James" in that last post and you've got something Buffett could have written himself. Imagine, the guy made $30 billion on such an idiotic strategy. I am not being abusive here, I am really amazed. This is an absolutely perfect description of how Buffett got rich. What do you think Coke looked like to everybody else when Buffett bought it? What did American Express look like when Buffett bought it? What did the entire U.S. market's future look like when Buffett bought Washington Post? Like an "old, sick monkey"? What will Microsoft look like if I get my shot? What will AOL look like if I get my shot? What did Intel look like the two times I DID buy it just before easy 50% gains (one of which became a triple and the other is still counting)? Have I made myself clear? Alright, lets just repost it: <<In the book of James 34:14 we read-- "There was a wise old owl, much like James [HIS NAME IS WARREN, AND I WISH JAMES WERE MORE LIKE HIM], very patient and also very irritable when his feathers were ruffled. [ACTUALLY WARREN JUST LAUGHS] And it came to pass that the owl set off in pursuit of a gorilla. He saw a young and growing gorilla but he would not buy it because it was immature and unreliable and growing too fast. [AND UNPROVEN AND OVERPRICED BY A FACTOR OF 300%] He saw a mature gorilla in its prime, very large and thumping his chest, but it was too expensive and he did not buy it. [BECAUSE IT WAS OVERVALUED BY 100%] Lo! he had a new strategy, wait until the mature gorilla wanders away from its natual habitat, has an accident, becomes ill and falls down on the ground whimpering. Then buy it" [AH, NOW THE PRICE IS DOWN AND THE BUSINESS IS STILL THE SAME. HMM, I CAN BUY IT BELOW WHAT ITS WORTH WITH LITTLE RISK. NOW THAT SOUNDS INTERESTING...] There you have it. Buffettology as taught in the book of James [KIND OF THE SAME THING AS YOU WILL READ IF YOU EVER OPEN ONE OF THOSE ANNUAL REPORTS]--- be very patient, be very, very cheap, and buy old, sick monkeys. What a hoot!>> [AND THE MORAL OF THE STORY: WARREN BUFFETT HAS MADE $30 BILLION OR SO OUT OF THAT "HOOT". WHAT A HOOT.] And yes, I promised not to respond to jhg any more, but this one was just too perfect. This one was fun. JJC

To: jhg_in_kc who wrote (938)	1/4/1999 11:14:00 PM
From: Shane M	Read Replies (1) \| Respond to of 4691

jhg, Please don't take this the wrong way, because I dislike the tone some of the recent arguments on this thread have taken, but why do you persist in insisting Buffettology should be about high tech investing? While I like tech stocks, most are clearly a different animal from a Buffett-like investment. At first I thought you were really interested in learning Buffett's investing style, as am I, but I don't understand what your purpose is here. Are you here to understand what Buffett would invest in? Are you here to disprove Buffett? Are you here just to to get your jollies? He saw a young and growing gorilla but he would not buy it because it was immature and unreliable and growing too fast. I play that game too, but I don't discuss my young gorilla - ITWO - on this thread. Buffetology has nothing to do with investing in young gorilla stocks. If you've read Buffettology book (have you read the book the thread is named for?) you'd understand this is not what Buffett is about. He saw a mature gorilla in its prime, very large and thumping his chest, but it was too expensive and he did not buy it. Again, this is not Buffett's game. Are you insisting that Buffett buys tech stocks disregarding valuation? Jim understands Buffett better than most of us on the thread. I've learned alot from him. Just as you urge the thread to listen to Chuzzlewit, I urge you to listen to what Jim says. He understands Buffett. Please don't confuse what I'm saying. I think I understand where you're coming from, but it's not anywhere in the vicinity of Buffettology. Shane