During his recent interview with Bloomberg, Mario Gabelli explained why you should buy stocks like Warren Buffett. Here’s an excerpt from the interview:
Gabelli: First of all you got to do what Buffett says, which is patience, long-term, don’t worry about the short-term dynamics.
If I own a farm out in Iowa or in the Bronx, I farm it, I’m not going to wake up every day and figure out what the prices are.
I’m going to look at it and say what are my cash flows, and what are my predictability, and what can I harvest?
Same thing with good businesses. If you buy a good bunch of business and whether I have like the Tegna, Textron, Trait and Televisa, my T’s.
We can talk about these things, the stocks will go down, they’ll go up, but you five years from now okay 12% CAGR’s.
You can watch the entire discussion here:
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