Warren Buffett at his BEST
Whatever one might think of him … some of his thoughts are worth the time to read!
I love his explanation on PAGE 19 … as he plays with numbers to give you a hint that one thing is for sure:
Past performance has nothing to do with future results […]
Every Trader and every Investor KNOWS it … NEVER touch a falling knive …
BUT:
Even the RICH do it …
Examples?
Bank of America bought a stake in Countrywide Financial … thinking, it was cheap … RESULT … the stock is (SINCE THEN!!!) OFF AROUND 75% …
Warburg bought a stake in MBIA, the bond insurer … […]
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