Sat mull 2..29 Aug 2020 09:27
You know the difference between the Micro & the Macro? The Micro is a lab scope the Macro is Jodrell Bank. You get the picture! Perhaps, it's the little things specifically business related that count and not the World view of economies, Elliott wave theories and the like.
Better one becomes an expert on a co than a guess'pert on economic factors, political tensions, the Dow tanking 1000, Treasury yields going from 17% to near zero. Bet you didnt forecast any of those, it's kinda like "Lights, Camera, splunk! and yea nor did i"
Buying first class businesses whatever the Macro events say will stand you in good stead. Of course some macro events will need to be watched (corona-v) which has caused such damage and nobody predicted that did they? Well Gates apparently did and he's the only genius still available for a quote.
Since few of us are fortune tellers buy what you know especially now when many good companies have been corona-stricken and trade at constipated Carey St prices.
I know buying stocks now is like undergoing Chinese water torture where the drop, drop, drop of sps will drive you insane. As a golf pro once said practice does'nt make perfect; practice makes permanent ( I found that out to my cost) and as WB said try to buy a good business at a fair price rather than a fair business at a good price or as I say every one putt makes me very happy. Work that one out. I think it means REA is a 3 putt par (one you should get). On a lighter note a joke that chuckled my fancy.
An old man crashed his trolley into that of a young man doing his shopping. The old fellow apologised that he had lost his wife and was preoccupied searching for her. The youngster said " blimey my wife has wandered off goodness knows where so let's go together and look for them" " Fine, what does your wife look like asked the old man?" " Shes a gorgeous blonde, with a great figure and she's wearing skin tight white shorts, how about yours?"
" Forget her we'll look for yours" heh, heh, heh.
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