No exit strategy

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Watched the Charlie Rose Show with Warren Buffett  Part 2. One interesting comment from Warren Buffett is “when I decided to buy a stock, I intended to hold the stock for life. I don’t have an exit strategy”. This is really something. In the reality I think Warren does sell stocks from time to time, but I think in most of times he hold a stock for a long time. He has the patience. And he is confident about the organic growth of a business if he decided to buy after doing his research.

On the other hand, when we look at the dot com and current web 2.0 craziness, how many are really going to “hold the company for private” for a long time? I think many people are looking for VCs or IPOs before actually start it. We can apply this to our own career path and personal life too. Sometimes when there are no exit strategy, we have to work hard to make sure things work.

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