erifloss wrote:@jmbada, worlwide everyone takes WB's thoughts on any investment as the gospel truth. When doing your technical analysis, you are actually using some other people's trends to plan for your own. Recession is a case in point, many investment firms went down! Is it coz they were all employing the same investment strategy? Be assured we all are emulating someone else's strategy, the only difference is that we make little changes to suit our own investment strategies based on our capital.
@erifloss:
1.Nobody takes Buffet's thoughts as gospel truth because he doesn't share any until well after locking in valuable positions. If you mean his general principle that you should buy a share in a company using the same approach as though you were buying the whole company...well yes SOME people follow that, but not most (otherwise there would not be so many stupid acquisitions / spinoffs / crashes, etc.)
2.I do not conduct technical analysis as there is absolutely no single technical investor who has ever demonstrated that they've made money in stocks. There is some anecdotal evidence that it works for commodities markets.
3.Agree with you, yes, we all emulate someone else's strategy as there is nothing new under the sun. However, if one emulates someone without really knowing who they are, what they stand for, what they've actually truly invested, what their strengths and weaknesses are, then one cannot fail but to accept that they are behaving illogically (or less politically-correctly like a danda).
PS
I have done this PLENTY of times before, and do not hesitate to acknowledge when I do dumb stuff...incidentally so does Warren.