Wilbur Ross-quote - brilliant

[MrB]

"Anyone that tries to figure out the exact bottom to buy or the exact top to sell is a moron, because you really cannot do that"

http://www.bloomberg.com/video/73685898/

At 6.05, but listen from 5.00

 

 

[biaggio]

thanks for the link

 

I think that last night he called it "amateurish" that people were selling stocks for 12- 15% less than the day before.

[PlanMaestro]

"Anyone that tries to figure out the exact bottom to buy or the exact top to sell is a moron, because you really cannot do that"

http://www.bloomberg.com/video/73685898/

At 6.05, but listen from 5.00

 

Wilbur Ross for the win. Very good interview, thanks MrB

[dcollon]

Thanks for posting.  I was once told the following from an old hedge fund manager:

 

Don’t try and pick the bottom, AS LONG AS THEY ARE GOOD BUSINESSES, buy them all the way down.  That way you will definitely own them at the bottom.

 

[Myth465]

Thanks for posting.  I was once told the following from an old hedge fund manager:

 

Don’t try and pick the bottom, AS LONG AS THEY ARE GOOD BUSINESSES, buy them all the way down.  That way you will definitely own them at the bottom.

 

 

I dont agree with this any more unless you manage money. You can buy today at what may be 2% - 6% off the bottom with a fed tailwind. I think its totally different if you cant get a full position, but if you are a small guy waiting for today would have been smart. Though yesterday maybe wasnt the bottom lol.

[dcollon]

Very true Myth.

 

I agree. It's important to differentiate between investors.