You make an interesting point.
I did an analysis 2 years ago that if I had bought and sold, a junior explorer each time it it had a great run, and then sell ( blocking out all noise), and then buy back back again when it dropped, I worked out that I would have made 30 bagged.
I tested the theory on SYA. I bought and sold from 1.2 c to 3.8 cents back and forth.
The result was I 13 bags in 6 months. If I still held it today, I would have 5 bagged with a 2 years holding time.
So I agree the Buffet theory was probably not meant for Junior explorers on the ASX.
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