Unfortunately, I couldn’t find the exact date when he sold.
But in his early years, trained under Graham, he valued companies purely on liquidation value — and whenever the stock approached that number, he sold.
In most cases that was a mistake. Only later, under Charlie Munger’s influence, did he shift toward holding great businesses longer instead of treating everything as a trade.
Unfortunately, I couldn’t find the exact date when he sold.
But in his early years, trained under Graham, he valued companies purely on liquidation value — and whenever the stock approached that number, he sold.
In most cases that was a mistake. Only later, under Charlie Munger’s influence, did he shift toward holding great businesses longer instead of treating everything as a trade.
What I find particularly interesting is that this can be interpreted as a trade. 300% in a few years...
Unfortunately, I couldn’t find the exact date when he sold.
But in his early years, trained under Graham, he valued companies purely on liquidation value — and whenever the stock approached that number, he sold.
In most cases that was a mistake. Only later, under Charlie Munger’s influence, did he shift toward holding great businesses longer instead of treating everything as a trade.
Unfortunately, I couldn’t find the exact date when he sold.
But in his early years, trained under Graham, he valued companies purely on liquidation value — and whenever the stock approached that number, he sold.
In most cases that was a mistake. Only later, under Charlie Munger’s influence, did he shift toward holding great businesses longer instead of treating everything as a trade.