Here is a link to the thoughts of Warren Buffet…
I more than agree with most of the article…also because I believe it, you could call it affirmative bias.
I know people who have made fantastic returns in property trading, gold trading etc. However I do not believe that real estate, bonds, and gold can give the kind of returns that even dull boring shares like Cholamandalam Finance, Coromandel International, EiD parry, Tata Steel, Tata Motors, Hindalco, Cummins, Hdfc, KcP, Areva, Hero Honda, Colgate, Proctor and Gamble, Gillette, MRF, LMW, Tata Power, Tata Chemical, L&T, etc…..(not in any particular order) have given over long periods of time.
However when WB says American companies will deliver…going forward, it looks difficult to believe. Not that the US economy is faltering or anything of that sort, but the way people look for value may change.
Also do remember that the big man has also technically missed the ‘gold’ – past decade of success. If you had invested in gold in the past 10-14 years, your returns would have been good. Here I belong to the same school of thought…about gold.
So ..surely read it, but also please remember his OWN SAYING “If all that you have is a hammer, the world looks like a nail”….but surely read and remember I am also equity biased and missed the gold run (except what physical gold I hold)…
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