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Max Rudolph's avatar

Gary - well written, as usual! I especially like "he learns from others but thinks for himself"

I do think there is another reason he, and other value investors, have not beat during this period. We won't know unless it all gets unwound, but the subsidization of markets over that 20 year period have allowed all boats to rise as the tide came in. If they ever unwind these subsidies (before a currency default or losing a war) I would expect value investors to outperform by quite a bit.

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MIke's avatar

Gary Thanks for sharing.. my first meeting was in 2001... I believe that was the cover of Forbes year ... "Warren Buffett has lost it" that year I am not even sure they had 10,000 in Omaha.. but I was lucky enough to see him on the floor.. go down and shake his hand and chat for a minute or two until we were mobbed. I owe so much to those 8 years in a row of meetings I attended due to his advice and wisdom shared.. life changing! Thanks Warren.. I keep thinking I better get back for one more and this year he agreed to actually speed up the questions which had gotten so slow. Thanks for sharing your stories and I enjoy your articles!

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