Stupid Warren Buffet followers

[GoOwls]

I just roll the old eyeballs when I hear pundits and newsreaders and hacks that I hear both in public, and even on 5A, talk about what Warren Buffet said was the way to go, or the thing to not get into, financially.

HEY PEOPLE...Warren Buffet didn't get rich by telling everybody how he's doing it.....he got rich by telling people what to do, then he does the exact opposite...

...yet idiots still treat his every word as gospel just because he is so wealthy, not realizing that following his advice is making him richer off the money you will lose....

[Tom]

What, did Buffett tell everyone to get in on the Facebook IPO while he short-sold it?

[GoOwls]

What, did Buffett tell everyone to get in on the Facebook IPO while he short-sold it?

I'm just eternally amazed at what a bunch of sheep our society has become. Otherwise intelligent people who sit amazed by the blatherings from "news sources" about what ANYBODY is doing and how so many people just accept it as gospel.

I mean, if Buffett is making a load of cash at something, why would he tell us what it is? Logic demands that if he speaks at all, he leads small investors down a road that once enough of them head there, he can flip that money to his side because he already owns what he needs to flip it.....he just needed people to put enough money there to make it worth it.

Do the guys on the info-mercials tell you how to make a fortune in real estate, for example.....no, they tease you and get you to buy their product.....ludicrous.

If Buffet says buy old houses for rental, sell your rent houses ASAP because there will be a glut of unrented houses in a year or two.

If he says buy bonds....buy stock...etc.

Idiots.

[Dawg82]

I like to read Scott Burns' personal finance articles. He's in the Business section of the comical every Wednesday. Syndicated, so he might be in DMN. You can always read online.

[GoOwls]

I like to read Scott Burns' personal finance articles. He's in the Business section of the comical every Wednesday. Syndicated, so he might be in DMN. You can always read online.

Don't know of him, but in general, every guy you run into in mainstream econoimics....financial planning specifically, is horse manure because they are going to direct you to the thing they sell that will make them the most money...not necessarily make you the most money.

It is rare to find a company/human who is going to operate on what is best for the client and not themselves.

Is best to use a company that operates off a percentage of what you earn instead of a commission...commission guys are salesmen, percentage guys are hungry unless they make you money.

[dragonpants]

I just roll the old eyeballs when I hear pundits and newsreaders and hacks that I hear both in public, and even on 5A, talk about what Warren Buffet said was the way to go, or the thing to not get into, financially.

HEY PEOPLE...Warren Buffet didn't get rich by telling everybody how he's doing it.....he got rich by telling people what to do, then he does the exact opposite...

...yet idiots still treat his every word as gospel just because he is so wealthy, not realizing that following his advice is making him richer off the money you will lose....

Here is where we differ. Buffett doesn't tell anyone he is going to do anything until after it is over and then he tells people what to do so that will in fact benefit him. He buys a chunk of Coca Cola and then tells everyone to buy Coca Cola driving the price up. I do not think he floats info out there and is betting on the come line, not his style.
I do not know how much you have studied him or Benjamin Graham but there is a process in place and both of them will tell you it is easy to do but it simply is not. Invest in something you understand, I get that. Part of the reason he was so late to Microsoft was because he does not understand computing but as he became friends with Gates he trusted him and bought shares, not a lot(by his standards). That part is simple. The math part is easy enough now with the internets but understanding the figures takes some knowledge that you do not pick up on a weekend.
The hardest thing to manage is pick a company with good management and speak to them.
Well what do think the chances of you getting an appointment and an inside look at GE would be if you called when Jack Welch was in charge and said hey Jack I am interested in buying a couple hundred shares of GE so I am going to stop by on Tuesday for a few days and I need to see the books and interview upper management,thanks see ya then?
So the reality of how he does things in not always based on a reality that you and I can comprehend or even have a part in.
However he buys for the long haul and sticks through bad times and that is not that difficult.
I would be willing to bet if you bought Coke and held it for 10 years you will make money. There are many such companies out there.
What he is not is a short term trader. He is not looking to day trade a penny stock and try to make double digit gains in a day or an hour or a morning.
So his methodology is sound.
Buy something you understand, you can find out if they are a stable company and do some research and you will be fine.
The problem is( me included) that we are all too impatient and want instant gains and will check our smart phone or etrade several times a day to see what a stock is doing.
I would love to have an afternoon or a day with Buffett and just talk and pick his brain and not all about investing but just his view on things.
He is an interesting and intelligent guy and I disagree with a lot of his politics.

[GoOwls]

Here is where we differ. Buffett doesn't tell anyone he is going to do anything until after it is over and then he tells people what to do so that will in fact benefit him. He buys a chunk of Coca Cola and then tells everyone to buy Coca Cola driving the price up. I do not think he floats info out there and is betting on the come line, not his style.
I do not know how much you have studied him or Benjamin Graham but there is a process in place and both of them will tell you it is easy to do but it simply is not. Invest in something you understand, I get that. Part of the reason he was so late to Microsoft was because he does not understand computing but as he became friends with Gates he trusted him and bought shares, not a lot(by his standards). That part is simple. The math part is easy enough now with the internets but understanding the figures takes some knowledge that you do not pick up on a weekend.
The hardest thing to manage is pick a company with good management and speak to them.
Well what do think the chances of you getting an appointment and an inside look at GE would be if you called when Jack Welch was in charge and said hey Jack I am interested in buying a couple hundred shares of GE so I am going to stop by on Tuesday for a few days and I need to see the books and interview upper management,thanks see ya then?
So the reality of how he does things in not always based on a reality that you and I can comprehend or even have a part in.
However he buys for the long haul and sticks through bad times and that is not that difficult.
I would be willing to bet if you bought Coke and held it for 10 years you will make money. There are many such companies out there.
What he is not is a short term trader. He is not looking to day trade a penny stock and try to make double digit gains in a day or an hour or a morning.
So his methodology is sound.
Buy something you understand, you can find out if they are a stable company and do some research and you will be fine.
The problem is( me included) that we are all too impatient and want instant gains and will check our smart phone or etrade several times a day to see what a stock is doing.
I would love to have an afternoon or a day with Buffett and just talk and pick his brain and not all about investing but just his view on things.
He is an interesting and intelligent guy and I disagree with a lot of his politics.

My example was poor, but my point is that he realizes that he is listened to...period....and he can manipulate the media to his ultimate gain...he cares less if you make money...he cares if he can manipulate the markets to make him money...if you make money that is just less that he can make...if you make money, you likely won't make much and you certainly won't get rich...he already has it stacked in his favor.

Again, you are reading his stuff and buying it....men like him have influence we can't comprehend and info we could only dream of...make sure that if he bothers to open his mouth, it is to set up making him money, not sound financial advice for the masses.

[mojotrain]

It's a easy thing to remember. If some billionaire is giving you a song and dance about how to be like them and then everyone follows suit and becomes a billionaire then a billion at that point is nothing.


To: more suckers being born today than ever before.

send me 100 bucks as well as 100 bucks to each of the 9 names I have added under mine. Add your name to the bottom of the list and then add 9 more names to the list after yours, requesting they do the same as I have ask you to do. Don't be the one to drop this money grubbing scheme.

Secret Code: Iwantyourmoneyandyourcountry

Signed: not dumbed down yet!