When to buy a great business

[@odedfaran6181]

[1:17] "To sit there and hope you buy them in throws of some panic" [...] "... a mortician waiting for a flu epidemic..." May 2020 Coronavirus :O

[@whattoexpect8731]

Finally there but there were not much panic in stock market

[@Sills71]

@@whattoexpect8731 WRONG. There were many great companies that sold at bargain prices in March/April of 2020. Buffet missed them all.

[@Greg_Chase]

@@Sills71 I bought very greedily in March/April 2020. My god. I still own all that I bought. I have rates of return from 150% to nearly 400% in the stuff I bought. You cannot know where the bottom is. At least I can't. So I don't commit all my cash at once. I do it incrementally. That's why I have returns from 150% to nearly 400%. I had a lot of transactions in that time period. I did not buy lousy stocks. I only bought stocks, in Buffett's words, of good businesses. That crash was a huge buying opportunity. People think the film Caddyshack was funny. There was a scene with Rodney Dangerfield on the phone with his broker, and he said: "Everybody's selling - Buy!" This is not a trading system, because if you hold lots of cash waiting for a crash, the opportunity cost of not being invested will hurt your average returns. That may be what Buffett meant when he said "you shouldn't wait around like a mortician waiting for a flu epidemic" . .

[@JoaoVitor-rf1to]

@@Greg_Chase Great investiments my friend. I live in Brazil, a country that has a lot of problems, but... we too had some good companies in our stock market (AMBEV, ITAU, BRADESCO, PORTO SEGURO, HERING, VALE) that turned out to be a bargain in this crises; the value that Buffet and Munger transmited all this years about investiments and life it"s immense, and can be applied all around the world.

[@Greg_Chase]

@@JoaoVitor-rf1to There are smart, effective people and business people in every country, and sometimes turmoil can make for good buying opportunities.

[@NKM10212]

PHILIP CARRET is the gentleman he is speaking of the book is called The Art of Speculation

[@fightsports66]

Thanks.

[@The123456NoNo]

Phil ran Pioneer Fund for many years.

[@midbraintrading6010]

Nice

[@cal.5081]

Thanks!

[@candyfloss184]

I think this was in May 1998 and in late May that year, Philip Carret passed away. So this standing ovation for him was justified in many ways. Warren And Charlie are indeed amazing.

[@vikramjain79]

Standing Ovation or Standing up for the Ovation?

[@bjkarana]

Instead of trying to make money in stocks, I follow Charlie Munger's advice and simply try not to lose money in stocks. Invert, invert, invert!

[@businesswalks8301]

what do you mean invert invert invert? you think he's just messing with you?

[@subscribetomyyoutubechanne1543]

1. If you like and know business 2. If you like the person offering the deal 3. Reasonable Price

[@surajpatil7242]

And temperment

[@ValueInvestorsArchive]

Buying great businesses at fair prices is the way.

[@businesswalks8301]

what is a fair price? he seems to presuppose this more than he actually lives it. he's holding them anyway, so any decently run business, that overcomes its competitors consistently at 20 years, will make any business a fair price at todays prices.

[@jiteshkumar3774]

@@businesswalks8301 5 or 10 times earnings per share & huge cash flow

[@ReflectionOcean]

- Look for companies with long-term excellence (0:10) - Consider the 'leave it and go on a trip' test for investment confidence (0:28) - Focus on investing in great businesses rather than timing the market (0:44) - Learn from experienced investors like Phil Carret (2:27) - Seize rare market opportunities when they arise, such as a company crisis (4:01)

[@shankarbalakrishnan2360]

There is also a limitation for brilliance❤❤🎉🎉

[@SunWest-f3t]

You have been my mentor, looking great

[@lokeshsharma279]

The book by Philip Catret is Buying a bond published in 1924

[@guru96973]

Legends

[@wahyuramadhan195]

Thanks

[@johnwolf7073]

"me scrolling down to see if there are any Covid19 comments" xD

[@MrBoliao98]

Mortician waiting for a flu pandemic, so true now

[@Commando303X]

Well, C.O.V.I.D.-19, flu pandemic: market ended the year 2020 higher than ever. Not fun...

[@27bykarthi]

Pessimism and optimisim

[@960john]

So why did he sell all Costco shares? it's expensive, but a great business.

[@xJoeKing]

Price > value = sell

[@N0N5T0P]

@@xJoeKing Yeah, I never understood the whole "buy great businesses no matter what" stuff. Surely, a business is great if it's very profitable. It might still be vastly overvalued in the stockmarket though.

[@abrahamadi6000]

Opportunity cost. He might found better opportunity which the best thing to do is to sell the Costco shares

[@960john]

@@N0N5T0P I know. Who talked about BUYING? He said that you should hold onto great stocks you bought in the past, even if it's expensive today, because you might not get another chance to buy it again. He said that, not me. "Amex" is also overvalued, but he keeps it. He doesn't do what he preaches.

[@960john]

@@abrahamadi6000 Not true. He's sitting on cash. That's just market timing... and sometimes he makes mistakes. Munger was against selling Apple shares for example, but Buffett did it just the same. Apple is overvalued, too.

[@shankarbalakrishnan2360]

What a wonderful world world of hollow souls not holy souls❤❤🎉🎉

[@Chrome_Haze]

The oracle of omaha lmao 😂

[@SunWest-f3t]

JACKPOT

[@sathyapranesh788]

Covid 19 epidemic

[@siddharthbhat9889]

*pandemic