Mar

10

 While his recent blunder in purchase and recent sell of Bank of America for a 2/3 loss according to Bloomberg has been widely reported, it puzzles me. If the press is not playing favorites, why is more is not written about how the stock he sold throughout his history has performed, such as the article Markman once wrote on picking delisting of S&P 500 stocks? Yes, care must be taken to recognize there will be those hopeless going to zero.

But would an equal weight average under of over perform? Is there such a study? For a person about whom it is widely reported that his holding period is forever, those stocks he sold should be of interest to the public.

No matter the answer, that it is not widely published speaks volumes. It seems to be either a case of complete bias, or being too lazy to do the numbers themselves, and only relying on Buffett's media campaign giving them the study to publish.

The media does not care. Either way it does not fit their agenda. If it over performs, it is simply a matter of saving the sage's reputation for future articles with a preferred slant. If it under performs, what good would such a press reel do for Buffet's current portfolio. Hence it was not spoon fed to the media by his propaganda machine. Likewise if it is fairly neutral, it would at least imply that person was expecting to outperform the market. This was a proabaly a good move. But such a further drop in the stock price after it is unloaded, does nothing for Buffett's future returns.


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