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

#1

Matt
Spend like it's old money

Sure, the story is inspiring but couldn't it just be an exception? Good things don't always happen to good people. Infact the bad is always ready to strike. Should we really take that much risk?

#2

Hugh
Spend like it's old money

I think the basic theory is correct. Try to buy as close to bottom as you can, stop buying when the real public boom is in full swing.

First of course, you need to have spare cash or the ability to borrow without compromising your home and security of finances. But if you are in the fortunate position to be able to do that, then when the time is right as you see it, go for it!

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