In their latest episode of the VALUE: After Hours Podcast, Brewster, Taylor, and Carlisle discuss A Great Lesson For New Investors. Here’s an excerpt from the episode:
Jake: But what was funny about it is like once I started reading about him [Warren Buffett] and I I said wait a second he just likes to not pay retail for something, he just likes to get a deal, I’ve been doing that my whole life.
Of course it makes sense in the context of partial ownership of businesses as much as it does me buying a kayak on Craigslist and selling it on eBay for more, like it was the same game as just a different application of it, so I felt very comfortable.
Little did I know that like you Toby that I was a momentum value guy getting sucked in at the top of when it had just had a terrific run. So… which I think that’s pretty natural.
I think if you get interested in investing you should almost default think I’ve got to be the last person that knows about this because chances are just the news-flow like statistically you probably are late to the game.
So take that with a grain of salt if you’re a newer investor.
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