Post deleted by Mat Sklansky

[goodedesign]

[Evan]

My synopsis...

Clearly the best book on value investing ever. It covers everything from picking individual investments to understanding overall economics at their most macro level. This was the first book that made me feel like I "got it". IMO attempting to intelligently invest (haha, no pun) without reading this book and understanding its concepts is pretty much just stupid. Graham was, is and always will be a genius. WEB (haha, can't spell that wrong) followed in his footsteps and built Berkshire from nothing, if that's not testimony to Graham's brilliance than I don't know what is. This book will teach you to treat your investments as more that just strings of letters with market caps and PE ratios--that is the first step to becoming a succesful investor.

[DesertCat]

[ QUOTE ]
by the way... mak shure you speel buffett rite.... i had some1 on this furom choo me out for not speeling it write.

[/ QUOTE ]

You got called out because you claim to use the same techniques as Buffett, yet you don't know anything about him or his techniques (you mispelling his name repeatedly was just icing on the cake). Now you admit you haven't even read his mentors seminal work? That's just so sad man.

[Evan]

Does that mean I'm off the hook? wooooot!!!!!

[goodedesign]

[DesertCat]

[ QUOTE ]

ok. i didn't claim to do EVERY THING buffét does. i'm not his best friend... i don't lick his undershorts like you do. I don't worship him. I don't want to have his babies or him have mine.

[/ QUOTE ]

You want me to stop bashing, and you post this? Look if you want to learn how to play poker, you might want to start learning from someone who's a proven winner. In Poker sometimes though it's difficult to know who's the biggest winners, since much is all hearsay, and even tournament winners don't disclose how many buyins they used.

If you want to learn how to invest, you can learn from the most successful living investor. And his results have been audited for the last thirty years so you know they are accurate. It's not blind hero worship, it's just common sense.

You on the other hand, paid hundreds of dollars to some backwoods idiot with no verifiable track record. Instead, you could have read Buffett's shareholder letters for free or read a few books on him for a nominal cost (or for free at your local library). The fact that you didn't read up on Buffett is unfortunate, and your constant insistance you know anything about Buffett is laughable.

[goodedesign]

[Dan Mezick]

Here you go, simply the best of the best. These books are for traders, not investors per se.....trading and poker require very similiar patterns of thought....cheers





Reminiscences of a Stock Operator by Edwin Lefevre (JESSE LIVERMORE)


Technical Analysis of Stock Trends by Edwards and Magee

Market Wizards by Jack Schwager


Trading in the Zone by Mark Douglas

[DesertCat]

[ QUOTE ]
i've found someone who is a proven winner in the market

[/ QUOTE ]

How do you know this? Have you seen audited results? How do you know he doesn't just make his money giving seminars or by stealing from client accounts? I don't want to freak you out or make you paranoid but there have been some fantastically successful investors who turned out to be utter frauds.

Martin Frankel is a great example, siphoned $200M off clients while giving them bogus reports on how great he was doing. He owned a big house, and many cars as well.

Your views on trading and investing are interesting. I know that you believe you can make money by trading, but I don't and that's why I don't do it. Many studies have shown that trading is a negative EV activity. And in your example, you lose almost 75% of your investment in GE and you are happy you made a few cents selling options on it?

Secondly, holding a stock that is trading for more than it's IV is foolish. Even Buffett regrets not selling KO at $80, but his hands were tied as a board-member, you and I will never have that excuse. It's hard to have market beating returns by buying undervalued stocks, if you don't sell when they are overvalued.

So to answer your questions. I do have one car payment. It's not that I can't pay the mercedes off, but borrowing at 5% and investing it at a substantially higher returns makes financial sense. Same answer on my house.

I wouldn't buy a Denali BTW, let alone two, my wife's Toyota Landcruiser (which is paid off BTW) has much higher quality. Do I have to go to work on monday? Nope, I don't have to go to work on any day, ever...

Do I own mutual funds? Nope, my time is spent investing my own portfolio full time, so why would I pay someone else fees to do it for me? BTW, Buffett normally recommends index funds to most investors, and he has recommended the Sequioa fund. So saying he would VOMIT, is a little stretch. In fact he is invested in a hedge fund that does bond price arbitrage. That's a special situation though, like me, normally he isn't going to pay fees to someone else to do his job.

[MarkL444]

Evan-

I just wanted to let you know that I am both proud and impressed that you actually clicked on a thread with this title...and contributed!

Your buddy,
Mark