Word: buffetts
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Dates: during 1990-1999
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...with them. They split, and they never went up. They took over a bunch of companies, and it never worked out." I asked her what the next big thing was. "I have a lot of tips for you," she cooed in a voice that mixed little girl with Warren Buffett in a way I still can't shake. "I'm really into the stock market. You're going to make a lot of money, dude." I thought I could make a lot of money by recording this and setting up a 900-PORN-IPO number...
...mutual-fund industry, which is in sore need of a new superstar. But here goes, anyway: Give it up, Peter Lynch. This stuff about never having worked on a computer and wanting little to do with technology stocks is stale. Very stale. You've got good company in Warren Buffett, another totemic technophobe. And I'm not saying to load up exclusively on tech stocks. But it's plain silly to encourage plain folks to avoid them. They're not that difficult to understand. If you can figure out Maytag, you can handle Dell...
Whew! Any incoming? Taking on Lynch and Buffett at their own game is perilous sport. They're the nearest thing to omniscience Wall Street has to offer. But I've been thinking a lot about both men's no-tech dogma since last spring. That's when Buffett told thousands at Berkshire Hathaway's annual meeting cum Buffettfest that he won't buy tech stocks because he doesn't know how to value them, and Lynch glibly confessed to thousands more at a fund-industry conference that he doesn't know how to turn on a computer. Lynch's point...
...quote finished last week at $57,000 for the A shares. That's way down from the March 12 high of $81,100, and some analysts are calling it a bargain. From high to low, the stock fell 33% last summer, its steepest decline in a decade. Seldom has Buffett put such a hurt on his shareholders. Doing so now, while the economy sparkles and the stock market remains up for the year, is especially vexing...
...lost it? Please. He suffers from technophobia and has thus missed out on a big part of what's been driving the stock market. Meanwhile, those big-brand names he loves have been laggards. But it's hard to make the case that in the very long term--and Buffett believes in holding for life--stocks like Gillette and Coke won't come back...