Copying Main Man Mr. Buffett
This author began his investment journey two years ago.
Saturday, May 2 2020 was the day of the Berkshire Hathaway Annual Shareholders Meeting. Also the day my journey ended:
I own airline shares, specifically Delta.
The meeting was filled with historical anecdotes and stories that blended well with Warren’s overall message: “Never bet against America”. Another takeaway was:
Buffett made a mistake investing in the airline industry and has sold all shares.
The dire news led me to a heuristic in investing:
Cloning is only smart when you understand what you’re cloning and why.
The reason this author stupidly bought Delta stock was because it would be largely affected during a pandemic. A large decline could only mean growth after, right? Wrong. No one knows.
After reading headlines about Warren Buffett buying Delta shares, more capital was confidently allocated to mimic his process.
I spent Monday, May 4 2020, contemplating whether Delta should be dumped on my end as well.
After writing the above heuristic, it cannot be done. Cloning is only smart when you know why you’re doing it.
I do not know why Mr. Buffett chose to sell his shares. Therefore, I cannot do the same.
For now, this author plans to hold Delta until a decision can be made by him and him alone. May the 4th be with him.
