<<Will not last for...how long?That is the question.>>Nobody knows. But the true mistake Mr. Market makes is admitting a great business is undervalued but claiming there is no "catalyst" to change that. This is why people don't buy low. Buffett has made a fortune by purchasing great stocks/businesses at attractive prices and ignoring the noise. Buffett's age is noise. The talk of timing and of a catalyst is a great distraction. This is why most people can't do well in the market. They think they can time when the stock will climb and ignore that it is underpriced. So instead of buying they make incorrect assumptions about what the future price will do and when. This is why people with average intelligence can do well in the market as long as they have a good sense of human psychology and misjudgement. Todd
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