In his annual report, Warren Buffett said America has faced bigger economic challenges in the past, including two World Wars and the Great Depression.
"Though the path has not been smooth, our economic system has worked extraordinarily well over time," Buffett wrote. "It has unleashed human potential as no other system has, and it will continue to do so. America's best days lie ahead."
I totally agree with him as human being, but disagree as an investor. If following his "buy and hold" stratergy and having bought his heroic call last Nov, you will not live through this dark time. You are out of ammo by now.
"Buy when others fear" is a good investing stratergy and works most of times. However, even most sounding method could lose its magic, which does not mean it is not good, nothing is perfect. Unfortunately it does not work quite well this time. You have to prepare yourself for the worst outcome, which Warren Buffett did not outline you, no other so called professionals ever did. And that is why I am pissed.
No comments:
Post a Comment