There's no Buffett's strategy. Market buys whatever Buffett's company bought. That's how he got unusual gains.

Moment of fame stretched over 60 year of clipping coupons off of that initial fame.

The thing that made it possible was that he was content with his performance and never tried to one up himself. He kept his fame and market interest in him simmering over six decades inatead burning out in one bright flash.

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enjeyw 5 hours ago | parent | next [-]

I used to share a somewhat similar sentiment.

I know one anecdote is not data, but his investment in BYD all the way back in 2008 does counter that viewpoint somewhat - his investment success in the BYD case isn’t from other investors following him in, it’s from him identifying BYD as a successful company far before any other major investors did.

	▲	tim333 5 hours ago \| parent [-]
		Minor nit - it was Charlie Munger who identified and argued for BYD.

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JumpCrisscross 5 hours ago | parent | prev | next [-]

> There's no Buffett's strategy

There is and it’s found in float, leverage and low-volatility assets [1].

If you look at what he does, that becomes clear. If you only pay attention to how people talk about him on the internet, you’ll be misled into seeing trend following.

[1] https://www.nber.org/system/files/working_papers/w19681/w196...

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tim333 5 hours ago | parent | prev | next [-]

That doesn't explain how he did well before people had heard of him. Also if you read his letters he talks about his strategy and it's not that.

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irishcoffee 6 hours ago | parent | prev [-]

> There's no Buffett's strategy. Market buys whatever Buffett's company bought. That's how he got unusual gains.

That sure does trivialize him. If that was your goal, you nailed it.

I personally don’t think that’s a fair take, but I’ve no interest in trying to change your mind.

	▲	tommy92 an hour ago \| parent \| next [-]
		Yes its the typical attitude than gives HN users a bad name. And this particular comment doesn't seem to have done beyond surface level research either on his investment works. Maybe not even surface level. Too much confidence too little works just empty words.
	▲	scotty79 6 hours ago \| parent \| prev [-]
		> That sure does trivialize him. If that was your goal, you nailed it. Pretty much. I'm always interested what's left once I reject te ususal narratives that people keep repeating to each other. I find this kind of excercise insightful and satisfying. While in every working thing there's myriad of significant details, the main engine of operation is usually just one usually quite straightforward thing. I like making attempts at recognizing those main things. I'm sometimes wrong but even when I am I find satisfaction that I tried instead just repeating some selection of what other people said.