An observation Courtesy of Peter Switzer and Warren Buffet...
”They are often scared, spooked and given to forecasts of doom and gloom. And they’re often wrong, with a capital W. But like author Harry Dent, they keep believing and one day they might get their perfect storm of bad stuff that ends in a Great Depression, and that’s just the way they are, except, unlike Harry, they don’t consistently make much money out of their gloomy view on life.I know very wealthy investors who play the doom game through a hedge fund but I don’t know many normal people who have doomed themselves into consistent wealth-building, leaving them fabulously rich.
On the other hand, I do know many who have played the optimist’s game over time and have made themselves very rich. Despite some younger, go-getting types laughing at buy and holders out there, Buffett is a ‘buy and hold’ investor, so long as the key reasons for buying the business remain the same.”
Does the former, sound like anyone YOU know ? See.... I didn’t mention his name or initials once !
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