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Urbane Gorilla!'s
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"Near a bottom" What does that mean? Kinda reminds me of "Bill and Ted's Excellent Adventure" when they fell into the 'big hole'. They just kept falling and falling, and had to stop screaming to catch their breath only to begin screaming again.
Sep 25 15:44 pm
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All Comments by Urbane Gorilla! »The Buffett Bump - Fast Money Recap (9/24/08) [View article]
Seems to me I've hearing 'near a bottom' for the last 20% drop in the S&P. Buffet doesn't look for bottoms. He looks for value and expects that sooner or later things will improve. With the returns he's getting, he can afford to wait.
If I recall, he lost a fair hunk of change on his purchase of BUD. It wasn't until the sale that he actually picked up a return. His purchases don't portend any turn-around.
jegan ;-)