Forum Archive Index - February 2003

[hugh webber <hugh.webber@clear.net.nz>]

Don't really think you are taking the right message out of it.

Buffett is important not for being Buffett as a person but for his
methods of analysis and operating rules which I have found
work very well e.g. avoid new floats, stay away from commodity
stocks (e.g. Carter Holt), pay attention to yields, quality of 
management & &.

Buffett, being but an increasingly old and frail human like the rest
of us is bound to go off the rails. More and more as a person.
Which is why one should stick to Buffettology and ignore Buffett.

Also, I avoided,unlike one old mate of mine, piling into Berkshire Hathaway
- Buffett's coy, because I thought it was horribly overvalued due to the
Buffett name. Old mate has now lost substantially on his investment.

I remember some very prominent billionaires trying to corner the world market
in silver and coming the ultimate cropper a few years ago. Silver is very 
plentiful,
low priced and produced as a byproduct of mining other more important 
minerals e.g. WMC in Australia produces heaps.

If Buffett ignores his principles due to old age and comes a cropper that 
doesn't invalidate Buffettology, it strengthens it.

cheers,
Red Baron

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