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Chasing Value: Considering Berkshire Hathaway... again |
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| Aug 20, 2008 02:48 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Berkshire Hathaway (BRK.A), PetroChina Co Ltd ADR (PTR), Comfort Zone Investing, Chasing Value, Stocks to Buy  Over the summer, my twelve-year-old son proclaimed that he was going to be the world's first zillionair! I had to explain to him that if he achieved that lofty goal he would be the only one because that is more capital than exists today; unless he meant Zimbabwean dollars. I suggested that long before he owned the whole planet there might be a few objections here and there.This got me thinking about my pal Warren, a frequent topic of conversation in business and investment circles, and how he amassed such a great fortune over the past five decades. He is a long way from owning the world but he has started to expand his horizons to the international scene. He has bought and sold PetroChina (NYSE: PTR) for a tidy $4 billion dollar profit and he has been hedging against the dollar for the last few years with mixed results. He bought an Israeli metal fabricator and he has splashed about in Europe and Asia. If you read Berkshire Hathaway's (NYSE: BRK.B) annual reports you will find the chairmans letters, where Buffett discusses both his successes and his failures. It is his failures and the fact that he does not make the right call every time that I wish to draw attention today. BloggingStocks promotes much debate, sometimes name calling, and sometimes worse. However, it is important to understand that even the best investors make mistakes. Continue reading Chasing Value: Considering Berkshire Hathaway... again Permalink | Email this | Comments<map name="google_ad_map_145-1290110"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1290110?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map> 
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