RE: AGEISM...7 Jul 2024 15:19
Charlie Munger... (not Mumber which was a mis-type).
Munger and Buffet are examples of value investing but where Buffet liked to focus on mis-priced companies that were good value on that basis, Munger preferred to focus on great companies at fair value, thinking that was better than good companies that were under true value. Buffet described Munger as the architect of Berkshire Hathaway's "modern business philosophy".
Ron Baron is a different type of investor, still very successful.
Rick Rule is a specialist investor, Baron has said he doesn't invest in commodities, Buffet has invested in oil and gas through different types of company and Barrick in receny years but doesn't like holding the hard asset so doesn't bother with gold bars in the home kind of thing... one would assume.
Rick Rule is highy successful as a specialist investor in the junior space regarding mining and oil and gas, he may have some other interests as well but is clear where a lot of his main focus is.
Jim Rickards is a monetarist and both himself and Rick Rule strategically invest in gold. Buffet not that big a fan of gold but still did buy Barrick in recent years.
Different types of great investors can all do well, in my opinion, in different types of market conditions because of their own intrinsic qualities, abiltility to adapt, never to late to learn e.g. Buffet pitching more to Munger's stance (wouldn't surprise me if some of his stance was still retained but that is a guess) and I think high strength in one style is not entirely exclusive of competence in another as market conditions change but it doesn't mean the style that one is expert in would become irrelevant or abandoned, because of current trends at any one time.
I know some of thus at a very basic level from dome general reading, watching YouTub, the occasional read of Motley Fool, memory and there is a little bit of my own opinion includedcwhen making interpretive comments.
News knows a lot more than me regarding general and specific knowledge so if he wants to tidy up anything I have said regarding the greats, no problem.
One more thing I saw an interview on CNBC with John Paulson within the last two years, he made hughe money betting against the sub prime market but did say that the right kind of pre-production gold company could do a lot of multiples and it was a lot... Depends of course on quality of the asset / company and market conditions. It should also be noted: he said "could", anyone with any sense doesn't make emphatic predictions or even definite predictions.
It's raining, now and it will continue to rain, after posting this comment.
Good Afternoon...