First principles, Clarice:Read Marcus Aurelius.Of each particular thing ask,“What is it in itself?What is its nature?”1
Warren Buffett has achieved his Holy Grail, and his success is severely saluted. But, can you achieve what he has done? Doubtful. He is the unobtainable exception to every rule.
Buffett is complex with a complex firm. He has been positioned as the buy and hold/value guy and has not done much to counter that view, but it is dead wrong. Buffett has traded serious size in currencies. Many times he has bet against the dollar. There is nothing wrong with that, but the thousands who attend his annual shareholder meetings do not know that, that is part of the real legend.
Buffett has also traded derivatives, but at ...