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Down $16 Billion - Has Warren Buffett Lost His Touch?
Submitted on 11/18/2008
Do you remember the Seinfeld episode where Kramer (accidentally) punched his idol, Mickey Mantle? I don't mean to knock on Warren Buffett but it seems he's lost his touch as of recent. 'As of recent' is the key as his long term record makes him the (or one of the) most successful and common sense driven investors ever to set foot on Wall Street.
Through his career Buffett survived and thrived through three declines of 40 to 50% (1973-1974, 1987, 2000-2002). Naturally to him a 40% decline may be the benchmark for a buying opportunity.
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