he engineered the tax-free sale of 17÷ of his interest in Coca-Cola, at the outlandish price of 167 times Coke's 1998 earnings. Last, but not least, it is the first book to fully integrate Buffett's investment methods with the powerful investment research tools that the Internet now offers to individual investors.
This means that if stock prices are falling, many mutual funds jump on the bandwagon and start selling just
because everyone else is. Like we said, Warren thinks this is madness. On the other hand, it's the kind of
madness that creates the best opportunities.
The most common cause of low stock prices is pessimism— sometimes widespread, sometimes specific to a company or industry…. We [Berkshire Hathaway] like pessimism because of the stock prices it produces." Pessimism, not optimism, is the fountain that produced all of Warren's fantastic wealth.
This means that if stock prices are falling, many mutual funds jump on the bandwagon and start selling just
because everyone else is. Like we said, Warren thinks this is madness. On the other hand, it's the kind of
madness that creates the best opportunities.
The most common cause of low stock prices is pessimism— sometimes widespread, sometimes specific to a company or industry…. We [Berkshire Hathaway] like pessimism because of the stock prices it produces." Pessimism, not optimism, is the fountain that produced all of Warren's fantastic wealth.
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