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"This must be at least part of what Buffett is talking about when he says he could do 50%/year if he only had $1,000,000 to invest. Do you see anything like that kid of success?"

I'm no Warren Buffett. Supposedly he reads thousands of 10-K reports every year. They say he never forgets a number. I can read a 10-K on Monday and then read the same one again on Saturday and only have a vague sense of deja vu.

Buffett said you have to turn over a lot of rocks to find those kinds of investments. And of course we all know what's under most of those rocks: Horrible things that can give you nightmares. A company making parachutes for entire airplanes (ultra-lights) with a parachute failure lawsuit. A company called which for some reason has the ticker symbol GRLZ. Companies with zero revenues. Companies that have to re-state restated statements. Companies that can't even file a late-filing statement on time. Zombie companies like Enron and Worldcom. Companies with only a "last known address". Fleeing herds of runaway accountants whose last written words always contain "doubts about going concerns". Broken dreams. Missing funds.

As they say, with all this manure I'm digging through there's got to be a pony in there somewhere.

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