A new study by Gerald Martin of American University and John Puthenpurackal of (wait for it) the University of Nevada, called “Imitation is the Sincerest Form of Flattery," has found that if you buy the same stocks as Warren Buffett, you will make a lot of money.
...
The study found that investors mimicking the Oracle’s stock picks, even up to four months later, would earn an annual return of 24.6
percent, easily beating the S&P 500, which rose 12.8 percent during the same period. Based on these numbers, Martin and Puthenpurackal came to almost the preposterous conclusion that “"Warren Buffett appears to possess investment skill.” (No joke, they actually came to and wrote that conclusion.)
Wow. Just, wow.
I imagine that this study required ample academic resources, not to mention some serious grant money to be able to deliver such an insightful conclusion.
As I commented over on Dealbreaker, it must be International Pointing Out the Obvious Day.
2 comments:
George Soros, not so much.
Ha, I saw that!
Just because it's cheap doesn't mean that it's a bargain.
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