The time you spend relearning all the old Buffett lessons is time you are not learning from other great investors. Like this fund manager -- who has walloped the stock market over the past decade.
When the “Woodstock of Capitalism” took place a few weeks ago, aka Berkshire Hathaway’s BRK.A, -0.06% BRK.B, -0.64% annual meeting, the Warren Buffett fetishists came out in full force and saturated investing websites, CNBC and YouTube with their gee-whiz commentary.
So rather than rehash all the old Buffett lessons, I say let’s check in with Landis to see what he can teach us about successful investing. Here are six lessons. Here’s an example. The dating site company Match MTCH, -1.78% recently took a hit when Facebook FB, -2.40% announced it was getting into dating services.
There’s good reason for this. “Right around the time you’ve gotten comfortable with a name and the story behind a stock, it is probably getting stale and it might be time to ramp up your skepticism” says Landis. Lesson No. 5: Never rush into IPOs Here’s one for anyone who likes to buy companies in the early days of their IPOs — like Lyft LYFT, +0.40% which promptly tanked. Don’t ever do this!
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