A Tip from Warren E. Buffett
CEO of Berkshire Hathaway Inc.
From Buffett's web site:
Thanks for visiting our website. Being a lifelong technophobe, I tiptoed into the computer world only a few years ago. If you have any ideas about how we can make these pages more useful, just drop me a line (not e-mail though; I haven't made that much progress).
Don't tell us we can't say it because it's Warren Buffett, but his continued home-spun anti-technology spin seems to be an excuse for why his trading strategy never profited up or down in any tech stock. Additionally, does anyone believe that Berkshire's home page isn't that way on purpose? We like the simplicity, but don't spin us about how it came to be.
You probably know that I don't make stock recommendations. However, I have three thoughts regarding your personal expenditures that can save you real money. I'm suggesting that you call on the services of three subsidiaries of Berkshire: GEICO, Borsheim's and Berkshire Hathaway Life Insurance Company of Nebraska (BHLN).
A tip follows a no tip disclaimer. Are we all just lemmings? How much must we buy? When must we sell? Do we just buy a random amount and hold it forever? Don't believe the hype.
Buffett Backers
James Glassman, a regular target of TurtleTrader's, offers from his recent column:
'I never have the faintest idea what the stock market is going to do in the next six months, or the next year, or the next two,' the most successful investor of the 20th century wrote in Fortune magazine last December. And if Warren Buffett hasn't the faintest idea, why do you think you do?
Thanks Jim. We will all just put our head in the sand!
Feedback
Dear TurtleTrader: I found this to be an utterly hysterical quote: Being a lifelong technophobe. Take that comment apart a moment, and you'll laugh yourself silly. What is Buffet, 70, 71 years old? I guess that as a lifelong technophobe, Buffett has been afraid of the following 20th century technologies:
Automobiles
Mass Production
Airplanes & Air Travel
Radio
Television
Transistor
Telephone & Fax
Laser
Electric refrigeration
Air conditioning
Personal computer
Wireless technology
Radar
Plastics
Power Generation and Energy
Global Networks
Atomic Bomb
Internet
BioTechnology
Genetic Engineering
Pharmaceuticals
Artificial Intelligence
Fiber Optics
Oooh, scary stuff! That really shows you how absurd the statement is. Me? I'm a Fundaphobe -- I have a lifelong aversion to Fundamental Analysts.
Barry Ritholtz
