No. of Recommendations: 2
dealraker: "Half a century later I've never-ever known anyone who got wealthy or did well financially by holding huge amounts of cash waiting for the big drawdown to invest in low debt high quality stocks..." Well stated. Most of us know that Buffett should have been buying back brk at, a material discount to IV, starting at least 20 years ago. Even 1-3 billion a year would have made a dramatic difference. However,Buffett and Munger have effectively worked for free, for 50 years ,hence, we can't complain much.I'll never understand why Buffett was willing to sell his life's work so cheaply beginning in 2008 via the foundations? A huge unforced error on his part.
