Discussing :: Spend like it's old money
At the end of 1974, most shares had lost half their values in two years. After such a horrendous time, nobody wanted to touch stocks. Nobody, except Warren Buffett. His timing was perfect.As a money manager, Buffett told his investors "there's nothing left to buy" in the late 1960s. He gave his investors their money back. But in late 1974, Buffett saw incredible bargains and got back in business. Armed with plenty of cash, he went on a buying binge. His purchases included Dean Witter, National Presto Industries, Detroit International Bridge, Sperry & Hutchison, U.S. Truck Lines, J. Walter Thompson and Grand Union.As Maggie Mahar explains in... read full article
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