Subject: Re: Value, when to buy
>>>I take it you're not a fan of tactical asset allocation. :) I'm not either, <<

Your assumption is correct., I think it's generally a waste of time. I understand why it may have some value if done every 5,10 years or less frequently. But I suppose that might not quality as "tactical". So, I guess my answer is a firm NO.

I don't believe in cutting roses off at the stem. I don't believe in watering my weeds. Even when the flowers get tall relative to the weeds.

I would have "tactically" sold my Berkshire (now called Class A) at $16,000 when it was massively overvalued. And my "allocation" was WAY out of whack. Probably the only reason I didn't sell was the tax bill. The tax law MADE ME a successful investor lol. It taught me an important life lesson confirmed by life experience and reading. I was LUCKY. Now, in the words of Munger "you don't want to have to be lucky". "Gaming", the in and out timing of investments I've determined suitable for multiple decades, requires luck. Volatility is the gut-wrenching price we pay to be in this club. Its wild. Buffett: "Mae West was right...too much of a good thing is.... wonderful". For me: Rolaids over sell orders to deal with the "too much".

I'm not interested in waiting to buy Berkshire when its demonstrably cheap at $650,000 and it's tactically advantageous.

P.S.--this may be useless--but Manlobbi I hope you like the gratuitous Shrewd Snippets :)