RE: Sp 20p15 Feb 2021 23:24
He actually says "We try to be..." Many things buffet is happy to sit out on and even dump when others are fearful aka airlines last year...
""[O]ccasional outbreaks of those two super-contagious diseases, fear and greed, will forever occur in the investment community. The timing of these epidemics will be unpredictable. And the market aberrations produced by them will be equally unpredictable, both as to duration and degree.
Therefore, we never try to anticipate the arrival or departure of either disease. Our goal is more modest: We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."" He seems to be talking about general market conditions rather than specific shares. Yes he will research a share first and only buy if he feels it is buying. He won't just pile in to a share because it has lost 50% over night without knowing the reason why just because others are fearful.