Daniel Lauchheimer's  Instablog

Daniel Lauchheimer
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Investor with no formal training. Enjoy reading about happenings in corporate America, and trying to predict where things will land in the future. Interests span all sectors with no particular focus Also interested in macro strategies, and derivatives-- both for investing and hedging. No... More
  • Best Investing Lesson In History 1 comment
    Oct 3, 2012 10:38 PM | about stocks: KO, BRK.A

    From BRK.A 1993 Investor LetterLet me add a lesson from history: Coke (NYSE:KO) went public in 1919 at $40 per share. By the end of 1920 the market, coldly reevaluating Coke's future prospects, had battered the stock down by more than 50%, to $19.50. At year end 1993, that single share, with dividends reinvested, was worth more than $2.1 million. As Ben Graham said: "In the short-run, the market is a voting machine - reflecting a voter-registration test that requires only money, not intelligence or emotional stability - but in the long-run, the market is a weighing machine."

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: KO, BRK.A
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  • Albertasunwapta
    , contributor
    Comments (373) | Send Message
    Actually, in the past I've quoted from his five short Li'l Abner paragraphs further down the 1993 letter thinking that they reflected th best investing lesson in history. :-)
    31 Oct 2012, 12:44 AM Reply Like
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