IBM "could be" a mistake · Transcript

WarrenWas that a mistake to buy into IBM? Well, I don't think so, but it could be. I mean, we've owned stocks, we've lost money. And sometimes when stocks go down, we're wrong and we sell them, and sometimes we think we're right, we buy more, and sometimes it turns out we are. I mean, the Washington Post stock, it's not in that list because we dispose of most of it, but we have about 100 for one profit, for one profit in it, but it went down by more than a quarter after we started buying it. So we showed a loss in that, but we kept buying it, and the company bought in its stock, and it all worked out very well. On the other hand, I shouldn't say we, I bought Tesco, it went down, and it kept going down, and I was wrong about the company. If I'm right about the company, the stock will do fine, and I love buying more when they go down as well, and when I think I'm right. And if I'm wrong, you know, you say, you sell them out and take a big loss. And we've done that on a few stocks and bonds over the years. More often, we've made even more money because they went down initially.