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  • Shuda Xia posts: 03-16 20:53
    Weekly Top Insider Buys Highlight for the Week of March 15
    Twenty-First Century Fox Inc. (FOX): Executive Chairman...
  • Thomas Macpherson commented on Thomas Macpherson's article 03-16 17:14
    The Fine Art of Looking Stupid
    “A man always has two reasons for doing anything: a good reason and the real reason.” - J.P. Morgan "I asked the investor why he was...
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    Thomas Macpherson 03-16 18:14
    • Hi Nicola. Thank you for your comment. Your last two paragraphs sum up the subject far better than what I tried to say in 3 pages! Thanks again. My best wishes - Tom
  • Nicola Guida commented on Thomas Macpherson's article 03-16 11:56
    The Fine Art of Looking Stupid
    “A man always has two reasons for doing anything: a good reason and the real reason.” - J.P. Morgan "I asked the investor why he was...
    View all 5 comments
    Nicola Guida 03-16 12:56
    • Hi Tom,

      thanks for sharing your thoughts on this topic!

      In my opinion, nothing has been more instructive than experiencing an extended period of poor performance (during which you may think you've been stupid), but then realizing that your analysis was correct and the market simply over-reacted. Of course also real errors can be very instructive...

      As Mr. Buffett puts it, "only when the tide goes out do you discover who has been swimming naked"!

      For private investor staying the course is much simpler as you're only responding to yourself, but I imagine that being forced to sell shares of good companies during a downturn just to make up for a big amount of panic-triggered redemptions must be a very stressful situation.

      So I agree that holding a fair amount of cash (and educating your investors on the rationale of your moves) is a good choice, especially because it also allows you to really allocate the right amount of money when big opportunities come around.

      Best Regards, Nicola


  • 1989value commented on Holly LaFon's article 03-16 11:38
    Ask Arquitos Capital's Steven Kiel Your Investing Question for GuruFocus Q&A
    Steven Kiel, founder of Arquitos Capital, will speak at the GuruFocus Value Investing Conference in May alongside investors such as Mario Gabelli...
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    1989value 03-16 12:38
    • Two questions. 1. Do you feel the same way about MMAC now that the price has gone up so much recently. 2. What about NOLs? Why do you like those kind of companies? Thanks
  • neftegazagent commented on Rupert Hargreaves's article 03-16 07:13
    Warren Buffett Makes Good on a Little Known Oil & Gas Stock
    In the 1950s, a young relatively unknown, investor called Warren Buffett (Trades, Portfolio) wrote several articles for the Commercial and Financial...
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    neftegazagent 03-16 08:13
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  • vervelogic commented on John Kinsellagh's article 03-16 00:30
    Facebook’s Proposed Phantom Revenue Stream
    Perhaps it was mere coincidence that two senior Facebook Inc. (FB) executives resigned in the wake of CEO Mark Zuckerberg’s announcement the...
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    vervelogic 03-16 01:30


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