Buffett lost his touch?

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Berkshire Hathaway, a.k.a, Warren Buffett’s diversified holding company, reported a not-so-good quarter Friday after market close. Here are the results.

BRK berkshire 3Q 2008 pic
(full size pic here)

On the surface the result is not good. But I think the loss from derivatives is on the paper and will be temporary.

What do we learn from Buffett
Discipline, discipline, discipline (see the definition at Wesbster Dictionary). There is a new book about Buffett came out lately. Here is the link to Amazon. If you like, you can also help me out buying from my Amazon store. But this is not my point. My point is, among many attributes that contribute to the success of Oracle of Omaha, discicpline is probablly the most important.

Jason Zweig wrote an article about the secret behind Buffett’s success on WSJ. Here is the Chinese translation.

Buffett pretender award
I am going to give out a Buffett pretender award. We all know there are many people, from amatuer like yours truely to professional money managers, such as Danbin and Zhai Jing Yong, both money managers in Shenzhen, China.

I was kidding. If I have to give out an award, I will give it to myself: not that I am thrifty, but I think I made a fair share of mistakes while practicing Buffetology.

Seriously, I think many people (me includes) probablly learned more wrong things (than good things) because we had the wrong attitude or methodology. So is this Buffett-mania is benifit the society overall 🙂

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