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Subject:  Re: OT: KISS Date:  8/11/2002  3:17 PM
Author:  intercst Number:  73534 of 884174

JWR1945 clarifies,

It was not the Houston real estate market that cost you hundreds of thousands of dollars. It was your sale of some Dell stock to purchase REITs (IIRC) that cost you hundreds of thousands of dollars. Your observations of what happened in the Houston real estate market tended to reinforce your negative opinion.

Yes. Absolutely! I hope my single biggest investment mistake to date will be a lesson for all.

As Warren Buffett himself said during an appearance at the University of Washington in 1998, "Most people will only see 2 or 3 truly great investment opportunities in their lifetime. When a good opportunity arises, it's not the time to be reading a textbook on diversification."

I wish Warren had said that two years earlier when I "diversified" my portfolio by selling some DELL and buying REITS. <grin>


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