Warren Buffet's mantra - 'Buy when no one else is'. So, why aren't you?

Conrad

A bit of Friday fun.

The world's richest man has long advised people should buy when no one else is.


So why don't the uberbears follow this advice, given the implication is the herd will miss the bottom.

Really2

Because most bears are not risk takers or do not have the spare funds to be able to fund a higher risk project.

Most of the bears on here are always going to be bearish on everything.
They will not swing from bear to bull like they do on the markets.

For some reason bear and bull are a gang on here not an outlook on things.

purch

Hopefully it's because using random out of context soundbites from anyone, (even Warren Buffet :A) to base your decisions on is a pretty stupid thing to do.

stevetodd

I prefer his saying "When people get greedy I get worried, when people get worried I get greedy"

Like most I haven't been seriously looking because I felt there are still some decent falls to come. However I have started looking now to see if it's possible to get something for a good price, I think 10% below a REALISTICALLY priced property would be a good price. The fact that I have quite a bit of cash freeing up from a fixed rate bond next month is forcing me to decide whether to lock it in again, and is making me consider my options.

zcacmxi

They are! People are snapping up property at Auctions at prices 40-50% below peak.

Similarly, realistically priced houses in the regular market are also selling. So there are buyers!

Lotus-eater

Because there is buying when no one else is and buying when no one else is. Last year in Jan no one was buying, should they have bought then?
Apparently a few more people have started buying now, does that mean that they should wait for this to die out again before buying?

I'm glad I am an interested onlooker and don't care what happens to the market. If I was waiting to buy, I would be waiting a while yet and watching how it panned out. I'd be in no rush at all.

Really2

zcacmxi wrote: »

They are! People are snapping up property at Auctions at prices 40-50% below peak.

Similarly, realistically priced houses in the regular market are also selling. So there are buyers!

I did post on that yesterday and a lot are before auction.
My EA relative is selling Repo semi's that were £130K pre crash for £60-£70K and their is serious demand for them. (As you could imagine)

dopester

Conrad wrote: »

The world's richest man has long advised people should buy when no one else is.

A slight difference being he didn't say, "buy when no one else can't afford to", nor "buy when no one else can raise or access sufficient credit with which to buy."

no one / few ect.

Old_Slaphead

Conrad wrote: »

So why don't the uberbears follow this advice, given the implication is the herd will miss the bottom.

The herd, given the demand they create, can never buy at the bottom. Once they get interested, the price goes up.

Maybe the 'uberbears' don't practice what they preach and use publicised bearish commentary to keep prices down whilst they buy. Once they've bought then they'll turn bullish.

purch

I just heard a rumour that he said "Buy 64 Acacia Avenue cos no one else will"

itsallagame_2

He’s no more than a Ponzi builder and off over the cliff with a parachute and the cash when enough profit is on the table,

leading the lemmings to their fate.

Repeats mantra to new lemmings
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