day trading vs. buy and hold

[SimonPB]

Rule # 68 You only have to do a very few things right in your life, so long as you don't do too many things wrong."

Buffett's net worth is in excess of $50 billion. My understanding is that 90% of that net worth has come from only 10 investment decisions, and you think you want to DAY TRADE.

from The Tao of Warren Buffett

[asylum]

Great only 9 more investment decisions and i can retire super rich.LOL

[#3]

Simon....Ja trite Buffetisms ignore the fact the fact that we are all individuals...I can understand that you have to push the bank agenda but for many many ppl day trading is a very profitable and enjoyable activity....

[#4]

Yes, the other 10% includes the 100 000 other small decisions he had to make to get to the point of being able to make the big decisions

[SimonPB]

ya chartist, and for many many more people day trading destroys value.

[#6]

For goodness sake stop using Buffet as the base line for investments. His time is almost past so let us look FORWARD and find new successes based on other ways of doing things. I am GATVOL of hearing of Buffet! It is clear that not all of us are going to make megabucks but let us enjoy our trading - good or bad.

[SimonPB]

kariba, err huh? Buffet is the most successful investor of the past serval generations. Who should we look up to (as investors)? Ken Lay? And why other ways when we have one that works? Why re-invent the wheel?

[#8]

Hi Simon. The point I am making is that Buffet did things his way. We can certainly take note of WHAT HE DID but we should look further as the world changes. He was brilliant for his time but if he only made 10 sound decisions he made most of them in a low tech environment. Today we have to decide faster and move much faster and that will take a new person to find a new method. Why would everyone want to be a Buffet. I will be delighted to make 5 grand a day as spending money.

[pickle]

because y = B SQUARED OR NOT

[Russ]

I might never be as rich as Buffett but he's never going to be as young as me.He he! Anyway,I have enough money to last the rest of my life(as long as I don't buy anything).

[topgun]

er, how many day trading billionares do we know?? The question probably is do you want to play around on the market part-time and work for a boss fulltime or create long-term wealth so as to enable you to lead the lifestyle you desire.

[#12]

Long term wealth comes from multiple investments. Yes, one must look for long term wealts cause the government is not going to take care of you. I like to mix my investments so that I have multiple streams of income (ala Kyosaki). Day trading only plays a small part but gives me immense intellectual stimulation.

[#13]

The thing is that Chartist and Kariba are enjoying their trading while WB was downright miserable about making all those gazillions.

[topgun]

why do you know him??

[#15]

Of course not - I just felt like being as silly as C and K.

[Russ]

He's 77,you know.

[#17]

Who, Chartist?

[Brazen]

The irony, Simon, is that if everyone traded like Buffet OST wouldn't exist and you wouldn't have to work in a bank. Ahh, I get it, the ultimate insider with a fiendish plan to excape. . .

[#19]

yeah Simon I just dont get what you are saying....if you use that argument OST should stop the trade of all highly geared derivatives immediately....cause if ever there was an opportunity to do the wrong thing...

[#20]

And Trader Vic says: The chat columns or web pages of the day traders are also not of much use. Those chaps apparently have an insatiable need to brag about their successes, but immediately forget their losses. The intellectual level of someone who spends every day with coloured candles to predict a 200-point rise or fall in the all-share index is also rather suspect. (But don't worry, chaps, this is just the opinion of an old-timer who doesn't understand these things.) The whole article at: http://www.fin24.co.za/articles/default/display_article.aspx?ArticleId=1518-1522_2176664