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Stocks B / Berkshire Hathaway


Subject:  Re: Buffett/Jayhawk Q&A Date:  7/13/2005  10:22 PM
Author:  Mungerish Number:  106387 of 254511

"I'm not questioning Buffett's character but this makes me go hmmmmm....

The Buffett Partnership started with $100,000 in a decent climate in the fifties...and his returns were 10%, 40%, 25%, fact, he had one 50+% year in the thirteen years he ran his partnership."

As someone who has heard WEB actually talk about this, Its very clear what he means.
The response usually comes from a Newbie/Wannabe (like me) who asks if he thinks someone starting out could possibly hope for results anything like what he and Charlie experianced. I think he could pretty much brag about a whole lot without having to embellish.....that makes me really go hmmmmmmm when I read the quote above. I mean, do ya think he needs the press??? Maybe he thinks he'll never be the worlds richest man and he needs to dress up his record?...(which He could have been long ago if it was just about the #'s)
I could go on, but what would be the point. I mean he ain't perfect but he's got a little more credability than to have to start suck up to college students.... Ya think?
When he said it he said he thought he knew at least a dozen or so people who could do it WORKING WITH VERY SMALL SUMS (lets say under 20 million for discussion puposes)
Charlie has said the same thing and added that you would want to be looking in obscure stocks (hence WEB's reference to turning over lots of rocks.)

The point is , he's simply telling those interested that if you apply yourself, and assuming your not running big $, and you are not under quarterly performance pressure..and YOU CAN DIVORCE YOURSELF FROM THE can and will get rich and do very WELL. As Charlie has said:
"The real money is in the waiting"


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