Sunday, April 10, 2016

Some one asked me to comment on Buffett

A joke or my nightmare:

I got a call from Buffett asking me to lead their stock research. I asked him why for a nobody; you may be asking the same question. No kidding.

He told me that he should have read my book Scoring Stocks to buy Apple instead of IBM in May, 2013. It would save his company millions of dollars minus $10 for my book. Not to mention the market timing technique that had worked in the last two major market plunges.

I told him, "OK, I'll beat your mediocre returns of the last 5 years."

He said, "You can do better than that and at least beat SPY. If you do so, no one will be that stupid to leave my fund and pay the hefty capital gain taxes."

I told him, "I cannot beat the market as you are the market especially after your expensive fees. In addition, I do not know how to avoid day traders from riding my wagon in trading. Also most of my big profits were made in small stocks that your fund cannot trade besides owning the company." I woke up trembling. I'm glad it is only a nightmare

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