No. of Recommendations: 4
You made me go back and calculate my worst CAGR, which was my purchase around the end of 1998 after the big runup that year. This was my first substantial Berkshire purchase, and I obviously didn't know how to value the stock. I just had some cash and bought it. 🤷♂️
Same. For the first time I had surplus money to invest. I heard about this Warren Buffett guy and "value investing". I like getting value, so...I bought some. With skin in the game I then did a lot of reading, and learned about price to book and all that. As the stock price went down in 1999-2000 I just kept buying, even getting my girlfriend (now wife) in on the "great opportunity". Cheapest we got are split adjusted $29/share.
I am not sure I would have held on as diligently if I was just buying the index. The "cult" aspect of Berkshire made me hang on, and by going to the annual meetings at times and reading the reports, I sort of knew the business was still doing well even if the stock price was not at times, so it helped me hang on.
Good point. I feel the same.
