Originally posted by SimonMac
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In 1988 we made major purchases of Federal Home Loan
Mortgage Pfd. (“Freddie Mac”) and Coca Cola. We expect to hold
these securities for a long time. In fact, when we own portions
of outstanding businesses with outstanding managements, our
favorite holding period is forever. We are just the opposite of
those who hurry to sell and book profits when companies perform
well but who tenaciously hang on to businesses that disappoint.
Peter Lynch aptly likens such behavior to cutting the flowers and
watering the weeds.My subconscious is annoying. It's got a mind of its own.Comment
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Originally posted by pjclarke View PostBuffet again, although of course we know what he did with his holding in Freddie Mac .....Comment
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Originally posted by DimPrawn View PostLast edited by pjclarke; 24 August 2015, 09:33.My subconscious is annoying. It's got a mind of its own.Comment
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Originally posted by pjclarke View PostThanks for that. The answer seems to be 'no'. If I had $30 billion in my back pocket I'd be tempted to purchase a railway or Heinz foods, but for most of us, stocks are the only way to own parts of the economy. Just wish I'd a bit more cash in the portfolio, bargains to be had ....
Have money to invest
Buy during a long period of asset growth, starting at some long term bottom
Have lots of luck to avoid buying too many duds.
For example, Lehman Brothers, safe as houses, founded in 1850, look at the stock growth from the early nineties. Fill yer boots! Profitable, growing, what's not to like?
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Originally posted by DimPrawn View PostFor example, Lehman Brothers, safe as houses, founded in 1850, look at the stock growth from the early nineties. Fill yer boots! Profitable, growing, what's not to like?
My subconscious is annoying. It's got a mind of its own.Comment
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Originally posted by pjclarke View PostHence: Diversification. Minimum 10-15 stocks across many sectors, plus other asset classes. That way for every Lehmans you should have a Coca Cola.
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Okay, let me go back in time and choose my portfolio. Me vs Buffett, bring it on baby! I will diversify and crush this loser!
Here goes, wish me luck!
Enron
Lehman Brothers
Swiss Air
Woolworths
Polaroid
Pan Am
Polly Peck
Maxwell Communications
Ferranti
State Bank of Australia
Barings Bank
Commodore InternationalComment
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Originally posted by DimPrawn View Post
But he's still just a monkey. Lehmans and Coke are perhaps opposite extremes and its certainly beyond me to spot which of today's choices are going to thrive or fail. Hence: diversification.My subconscious is annoying. It's got a mind of its own.Comment
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