" Of course you are absolutely right with that. But I am not sure whether that does justice to the psychological complexity. For very good reasons Jim is the by far most respected poster here, as the rec's more than clearly show. If Jim says "KMX looks very interesting at this price because..." it's similar to Warren saying such. It would not only not dismissed, not only not objectively looked into, it would be treated as coming from a hugely superior investor --- as it actually does. And herein lies the danger:"

Good morning, have you been a brk shareholder very long? I would love to see someone research how have Buffett's large sales done vs SPY the past ten years? ibm, wfc, now apple, would retail be better off BUYING his sales OR, selling behind him the past ten years? Obviously, in the case of apple buying with him was a great idea, but his sell timing for now, looks misguided. Thank you if anyone takes the time.

Berkshire Hathaway FAQ

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