" It's probably fair to note that market timing is different from market pricing. Market timing involves having a reasonably strong opinion about the next direction of price movements, which I'm pretty sure he doesn't.

I would say the absolute limit of "market timing" for Mr Buffett is the existence of the word "probably" in this philosophy:
"I don't see any good opportunities today, so I'll sit on cash for now. The wait for better picks will probably be short enough that it will be worth the wait"

Jim"


Good morning old bud, it's amazing how you can rationalize and explain away 20 years of huge errors.

Refusing to authorize and aggressively act on buybacks, at material discounts to IV, was a huge mistake, beginning 20 years ago.

Not acquiring the, right of first refusal on all Foundation sales, was a huge unforced error 20 years ago.

Refusing to pay a forensic accountant, to review all major capital allocation decisions has been a huge, unforced error. We saved millions in fees and often overpaid by tens of billions, square that math old bud.

Refusing to initiate a small quarterly div has been a huge error. in 2026, 27 the latest, you will see the evidence.

Most public securities sales have been poorly timed, market timing, or whatever you choose to call it is hard.



Come on man, once every 25 years even you can agree on 1 or more unforced errors, is that too much to ask?



SHOCK brkville old bud, you can do this, were any decisions HE made the past 25 years, sub optimal? I LOVE the guy but perfect and beyond criticism crosses the line from love and respect to worship!

AAAAAAAAAAmen! hc, your pal in Las Vegas.