Why Warren Buffet is Wrong
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Top Comments (10)
Jim Rickards said: "One thing about Billionaires, watch what they do, not what they say."
That's one of the few things Munger and Buffet say that is true, diversification is just throwing darts at a dart board. What they don't tell you is all the insider trades and junk bonds they made the bulk of their fortune with.
Imagine going to McDonald's and ordering a Big Mac, fries, and a coke. The cashier says "how much are you worth? Oh you're worth $10,000,000? That'll be $3,000 for the meal." What am I getting that's different and better than what everyone else is getting? We've come to accept this system even though it makes no sense and is not right/good at all.
Diversification is good. Over diversification not so much.
I was trying to exchange some of my Canadian dollar but the value against the euro and the USD is so low that I chose not to do it. It's ridiculous how the economy is bad in Canada.
Well said!! Thank you Andrew
👍Diversification Brands I don’t follow the crowd and own LVT bags
Perhaps you could discuss what steps to take considering the great taking as described by David Rogers Webb
Thoughts on the craziness in venezuela?
Remember, "Diversity, Equality, and Inclusiveness, is our Strength"
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Top Comments (10)
Jim Rickards said: "One thing about Billionaires, watch what they do, not what they say."
That's one of the few things Munger and Buffet say that is true, diversification is just throwing darts at a dart board. What they don't tell you is all the insider trades and junk bonds they made the bulk of their fortune with.
Imagine going to McDonald's and ordering a Big Mac, fries, and a coke. The cashier says "how much are you worth? Oh you're worth $10,000,000? That'll be $3,000 for the meal." What am I getting that's different and better than what everyone else is getting? We've come to accept this system even though it makes no sense and is not right/good at all.
Diversification is good. Over diversification not so much.
I was trying to exchange some of my Canadian dollar but the value against the euro and the USD is so low that I chose not to do it. It's ridiculous how the economy is bad in Canada.
Well said!! Thank you Andrew
👍Diversification Brands I don’t follow the crowd and own LVT bags
Perhaps you could discuss what steps to take considering the great taking as described by David Rogers Webb
Thoughts on the craziness in venezuela?
Remember, "Diversity, Equality, and Inclusiveness, is our Strength"