Sunday Spectacle CIII

Letter Exchanges during the Enlightenment Period
(source: "Digital Keys for Unlocking the Humanities’ Riches," Patricia Cohen for The New York Times. November 16, 2010. Graphic accompanied the article.)

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Thoughts on the stock market - March 2020

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Warren Buffett's Evolution and his Three Investment Styles

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A Young Warren Buffett In a comment to one of my posts , Mark Carter, who incidentally appears to have a  good blog worth checking out , asked: "Buffett Prime is 1970's to early 1990's" Could you elaborate? I have vaguely indicated how I view Warren Buffett in the past, but I thought I would detail my view of his investing behaviour. This is more of an opinion piece and many others would disagree with me (if you do, I'm curious to hear your thoughts). I don't follow Warren Buffett as closely as many value investors so I may get some facts wrong. My view is that Warren Buffett went through three different phases, with each consisting of different investment techniques. The overall investment theory remained the same—what people call value investing—but his execution, tactics, and strategy differs across the three phases. Some people may break up his career into additional periods but my feeling is that the three I will describe essentially capt
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