alt Hacker NewsThere's no Buffett's strategy. Market buys whatever Buffett's company bought. That's how he got unusual gains.
Moment of fame stretched over 60 year of clipping coupons off of that initial fame.
The thing that made it possible was that he was content with his performance and never tried to one up himself. He kept his fame and market interest in him simmering over six decades inatead burning out in one bright flash.
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> There's no Buffett's strategy
There is and it’s found in float, leverage and low-volatility assets [1].
If you look at what he does, that becomes clear. If you only pay attention to how people talk about him on the internet, you’ll be misled into seeing trend following.
[1] https://www.nber.org/system/files/working_papers/w19681/w196...
That doesn't explain how he did well before people had heard of him. Also if you read his letters he talks about his strategy and it's not that.
> There's no Buffett's strategy. Market buys whatever Buffett's company bought. That's how he got unusual gains.
That sure does trivialize him. If that was your goal, you nailed it.
I personally don’t think that’s a fair take, but I’ve no interest in trying to change your mind.
I used to share a somewhat similar sentiment.
I know one anecdote is not data, but his investment in BYD all the way back in 2008 does counter that viewpoint somewhat - his investment success in the BYD case isn’t from other investors following him in, it’s from him identifying BYD as a successful company far before any other major investors did.