Barton Biggs

Re: Barton Biggs

Postby winston » Fri Jul 20, 2012 11:15 am

“ Mr. Market is a manic depressive with huge mood swings, and [b]you should bet against him, not with him, particularly when he is raving.”
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 101824
Joined: Wed May 07, 2008 9:28 am

Re: Barton Biggs

Postby winston » Fri Jul 20, 2012 11:17 am

“As investors, we also always have to be aware of our innate and very human tendency to be fighting the last war.

We forget that Mr. Market is an ingenious sadist, and that he delights in torturing us in different ways.”
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 101824
Joined: Wed May 07, 2008 9:28 am

Re: Barton Biggs

Postby winston » Fri Jul 20, 2012 11:18 am

“ Buffett, a man, like me, who believes in America and the Tooth Fairy, presents the dilemma best. It’s as though you are in business with a partner who has a bi-polar personality.

When your partner is deeply distressed, depressed, and in a dark mood and offers to sell his share of the business at a huge discount, you should buy it.

When he is ebullient and optimistic and wants to buy your share from you at an exorbitant premium, you should oblige him.

As usual, Buffett makes it sound easier than it is because measuring the level of intensity of the mood swings of your bipolar partner is far from an exact science.”
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 101824
Joined: Wed May 07, 2008 9:28 am

Previous

Return to Market Gurus

Who is online

Users browsing this forum: No registered users and 1 guest

cron