Sorry for another post, but to be fair to the posters on Saulīs board I have to mention something very important I forgot: Saul was/is a trader, not a longterm investors. Somebody who spotted an opportunity, hopped on board --- and had no hesitation to sell the same stock a few weeks later when numbers came out which were not in line with his thesis (disappointing growth rates).

Therefore there was constantly A LOT of trading going on among his followers. And therefore the ones who did this right can only mildly smile about my comparison of "SAAS stock prices during the mania versus today" as it is not at all relevant for them. So it says more about Maniaīs in general than about the results of the indivuals participating in them.

Berkshire Hathaway FAQ

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