No. of Recommendations: 2
Thinking about Warren this afternoon got me reading the annual letter again and this paragraph stood out to me:
I can’t remember a period since March 11, 1942 – the date of my first stock purchase – that
I have not had a majority of my net worth in equities, U.S.-based equities. And so far, so good.
The Dow Jones Industrial Average fell below 100 on that fateful day in 1942 when I “pulled the
trigger.” I was down about $5 by the time school was out. Soon, things turned around and now that
index hovers around 38,000. America has been a terrific country for investors. All they have
needed to do is sit quietly, listening to no one.
As one of my wife's foreign classmates used to say - Lest I beat the bush... - I'm irritated by the Permabears that continually create fear and panic in the investing public and get them to do the opposite of what Warren has done since since he was eleven years old!
