Why do people fall in love with stocks? - Blog Maverick - The Mark Cuban Weblog - www.blogmaverick.com
Great piece by Mark Cuban on Investing in Stocks. That's right Mark Cuban of Dallas Maverick fame!
What gets me even worse are the big name guys who come on like all they have is an honest opinion to share. I remember sitting next to Mario Gabelli. I brought up my position that the “investment theme” of buy and hold is nothing more than a sales pitch and the best way for sales reps and brokers to get upset customers off the phone. “I know the fund is down 12 pct Mr. Doe, but that happens in a buy and hold strategy. Over the last 80 years…” What nonsense.
Mr Gabelli disagreed. He responded with the omnipresent retort to all things stocks, “Warren Buffet buys stocks.” Yes. Mr. Gabelli, you are right. At that time he did. But he doesn’t buy 100 or 1k shares at a time as you have suggested the typical investor should consider doing, or should trust you to do for him or her. Mr Buffet buys enough shares to have influence and in many cases control. Can the average investor do that? Can the typical fund do that?
To which Mr. Gabelli responded with the evil eye. Have you ever gotten the evil eye on national tv? I have. I liked it. It was one of those “watch me stare at you so hard, I think I can make you cry looks”...ooooh, I was scared.
Great piece by Mark Cuban on Investing in Stocks. That's right Mark Cuban of Dallas Maverick fame!
What gets me even worse are the big name guys who come on like all they have is an honest opinion to share. I remember sitting next to Mario Gabelli. I brought up my position that the “investment theme” of buy and hold is nothing more than a sales pitch and the best way for sales reps and brokers to get upset customers off the phone. “I know the fund is down 12 pct Mr. Doe, but that happens in a buy and hold strategy. Over the last 80 years…” What nonsense.
Mr Gabelli disagreed. He responded with the omnipresent retort to all things stocks, “Warren Buffet buys stocks.” Yes. Mr. Gabelli, you are right. At that time he did. But he doesn’t buy 100 or 1k shares at a time as you have suggested the typical investor should consider doing, or should trust you to do for him or her. Mr Buffet buys enough shares to have influence and in many cases control. Can the average investor do that? Can the typical fund do that?
To which Mr. Gabelli responded with the evil eye. Have you ever gotten the evil eye on national tv? I have. I liked it. It was one of those “watch me stare at you so hard, I think I can make you cry looks”...ooooh, I was scared.
posted by Champion at 11:07 AM
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