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Message Boards | Miscellaneous (Technology) : Valence Tech & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

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To: richardred who wrote (14027)3/15/2004 5:56:01 AM
From: robert b furmanRead Replies (3) of 51313
 
Hi Richardred,

Down in Texas we have a name for people like Mr. Buffet.

Most call him a "Value Investor" We call people like him a "Chicken Thief".

You know the guy who comes on your lot and wants to buy that low mileage beautiful corvette for $2000 below what you can sell it for at a wholesale auction.

To play his game you have to wait like a fox and find somebody big - who has just screwed up and then be opportunistic.

His move into insurance has been brilliant - insurance companies have been reapiers of business ever since 9/11.They've consolidated and bumped up rates while restricting the exposure and coverage they provide.

When you have his size - you must wait for chaos to rule - so you are masked as you implement your plan.

The fact that he cannot find good value is exactly what Chief just said.

He missed the bottom and can't find anything to steal at a low ball - so he's patiently building excess funds.

I personally hope he chokes on his money.This is intended to be a time where money doesn't pay - therefore it should be productively applied not horded.

His style of investing is not well suited for low interest rate scenario's.

Remember he was the only other alternative to Allan Greenspan when LTCM went belly up.I still don't think he has forgiven Greenie for stepping in and saving the market.

For a guy who hates derivatives - he stalks those in the game rather close.

Buffet is also kicking himself in the butt for bailing out of Coke and holding Disney.

The guy is'nt all that good - but he is patient to apply his capital.

If there is a genius about him - that is the lesson I think.

JMHO

Bob

Nothin but a very rich chicken thief.
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