Warren is so cool

[Winston]

I like Warren Buffet alot.

The last time with Katrina, he bought the insurers, now he buys Goldman.

Firstly, Cash in troubled times, is a great way to enjoy life.

Secondly, if you are always properly shielded, you don't worry. Look at him, he doesn't care about his other positions too, because he knows that everything is still solid.


http://www.ft.com/cms/s/0/24c5c7e8-8a9c-11dd-a76a-0000779fd18c.html

beautiful!



winston



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www.ForexForRetirement.com
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[alexwong]

Yup, and George Soros is cool too! Haha... I love his theory of reflexivity, and personally, I prefer his trading style to buffets. :D

Check out this speech by him: The Theory of Reflexivity by George Soros (http://www.geocities.com/ecocorner/intelarea/gs1.html)

[Winston]

Yes, one of my deeply respected trading mentors is definitely George Soros.

I seldom share that with people because they only think of him as the trader.

In fact, out of the 10 books he has, he only has 1 trading book. And most people find that a "lousy" trading book, because it does not give "secret" strategies.

The funniest thing is that when you read finish his 9 other books, you will realise that the strategies are in there.

It is in the man, George Soros.


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www.ForexForRetirement.com
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[alexwong]

Yup... the key to a sucessful trader is his mindset/thoughts.

I thought as a Buffet Supporter, you might like this article by Economist:

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Tucking in
Sep 25th 2008 | NEW YORK
From The Economist print edition

Warren Buffett’s return to Wall Street raises hopes

IN 1998 Goldman Sachs was looking for help in bailing out Long-Term Capital Management, a sickly hedge fund to which it was exposed. It sought a contribution from Warren Buffett. But the Oracle of Omaha was on holiday (with Bill Gates, of course) and as the deadline approached his boat drifted out of mobile-phone range. This time there were no communication problems. Mr Buffett has answered Goldman’s latest call with a $5 billion infusion from his cash pile.

Goldman could not have wished for a more credible vote of confidence, albeit at a steep price: Mr Buffett’s holding company will receive $500m a year in dividend payments on its preferred stock. Mr Buffett knows from experience that it pays to negotiate hard with investment bankers. His only previous foray on Wall Street, a $700m bet on Salomon Brothers, went badly awry, though it eventually turned a profit.

He is, he says, betting “on brains”—and, implicitly, that Goldman’s profits will not be hit too hard by becoming a regulated bank. Some also see the move as a vote of confidence in financial firms, which Mr Buffett has thus far avoided in this crisis, preferring the relative calm of energy, railroads and chewing gum.

That may be hoping for too much. Mr Buffett made clear that he considers Goldman’s management a cut above. And he drew a contrast between its cautious valuation of illiquid assets and more “fanciful” marks at some other firms. Moreover, for all his hardheadedness he has a soft spot for Goldman, having befriended its one-time boss, Sidney Weinberg, as a young man and stayed close to the firm ever since

In any case, Mr Buffett’s skill lies more in picking undervalued stocks with strong brands than in timing market bottoms—indeed, he bought into Salomon only weeks before the 1987 crash. Even when it comes to individual holdings, he is not flawless. He held Moody’s, a rating agency, for too long.

Still, it is heartening that such a shrewd investor is beginning to spy opportunities in the rubble of a crisis he has dubbed “an economic Pearl Harbour.” He confirmed this week what must already have been obvious: that he has been approached by almost every big financial institution in recent months. After Goldman, he can expect the phone to ring off the hook.

[alexwong]

Looks like an interesting new book on Warren Buffett. Haha...

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Source: Warren Buffett finally agrees to do a tell-all (http://www.marketwatch.com/news/story/story.aspx?guid=%7B3FAC3434%2DF02A%2D4AEE%2DA3F0%2 DF4DF58AEDA4B%7D&siteid=rss)

LONDON (MarketWatch) -- A new biography of Warren Buffett was published Monday offering fresh insights into one of the world's savviest investors even as global financial markets are undergoing unprecedented turmoil.

"The Snowball: Warren Buffett and the Business of Life" was written by Alice Schroeder, a former managing director at Morgan Stanley. It's noteworthy for a variety of reasons -- not least the timing of its publication, which coincides with the greatest financial crisis since the Depression.

The title refers to one of Buffett's folksy sayings about success: "Life is like a snowball. The important thing is finding wet snow and a really long hill."

....