refinancing problem, page-37

Buffett,

The mob said I was wrong when I bought BPC at 3 cents too. fearfull things were all they wanted to talk about. Didn't take too long to get more than $1.00 a share. And yes i acted well before recovery was obvious to all.

Don't mind the mob disagreeing with me at all - the mob show themselves to be idiots, collectively, time after time Ergo anyone want a tulip? I've got a nice Viceroy one and the mob can't be wrong can they? Trust you'll check with the Dutch about this one before getting back to me.

While 'the mob' can be idiots collectively they can also be otherwise intelligent individuals otherwsie in other aspects of life and judgement calls. It's an interesting market phenomenom to be aware of. Once aware of it its just one more step to get on the right side of it to profit.

Blastoff