[DesertCat]

David,

I'm disappointed in your post. I'm not sure who Victor Resnick is, but Jeff Yass has a long way to go before he will be able to match Warren Buffett's accomplishments. So if you mean by saying he's "favored over Warren" because he's a better investor, well, no, that's simply not true.

Buffett's track record dates back to the early fifties and probably will never be matched. Your statement is akin to Warren Buffett announcing that he should be favored in the WSOP because he's dominated investing, a field which requires great intelligence, and he's a dandy bridge player, so certainly he'll beat any degenerate gamblers.

If you actually meant that Jeff Yass may outperform Warren in the future, okay, you might have a point there. But only because Warren is investing over $100B, so he's got quite an anchor dragging him down. But pound for pound, Warren is, always has been, and will be, the investment champ.

Warren actually has some poker-like skills. He knows all the math, but relies on quick estimates done in his head from experience when analysing an opportunity. He's got a tremendous memory, probably near photographic. And his central credo is very similar to the theory of poker, and just as useful.

But what he also has over you and Mr. Yass, is over 50 years of experience analysing businesses and their financials. He can quickly size up any business and make a yes or no investment decision, just as you can quickly size up a gambling opportunity relying on your decades of gambling experience.

All that said, if you decided to copy Buffett's techniques, you'd obviously do very well. That's basically what I've done and you are certainly smarter than I. But neither of us can ever be as good at investing as Mr. Buffett, as we've both started too late.