Very true, all points.Warren Buffet has an infinite time...

Very true, all points.

Warren Buffet has an infinite time horizon. WB invests with no eventual sell objective, he invests in companies that will be here 50, 100, even 1000 years from now. A resource company has a shelf life of its assets in ground, this model does not fit WB criterion. Hence, he does not buy such companies.

The point to this is not WB's event horizon but his philosophy in buying. One is not equal to the other. Buying low, averaging in and seeing long term growth is the philosophy, not the time horizon.

So as far as you are right, you are also wrong.

Distef is a perfect example of what we are discussing, and i'm sure his/her time horizon is not 100 years...if that is the case then the investment is sound and has merit in a value based investment approach.

Well done Distref, as we all know: it only takes one...and this is why we choose to invest in this end of the market with WB's wisdom in mind. We may not do it exactly like him, but his wisdom can be used in all sectors with the appropriate time horizon.