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I think as a rule stocks eventually go down and big money shorts the
daylights out of them.
New issues continually replace dieing ones, for the majority.
And those return figures are probably at the end of a fiscal
year/quarter/month when
funds manipulate accounts higher for a short period. People's accounts that
are holding assets just temporarilly
go up and then down again with no tangible effect on their personal wealth:
as fund rules deduct up to 20% for short term holders.
Maybe this early withdrawal fee was a significant portion of his returns
(?).
Buffet got rich alright on fees and flushing customers accounts after his
own (like all funds do, buy and hold? BS).
I wouldn't take any percentage figure as a reliable representation of the
truth without looking
at detailed records, and even then Accounting professions revolve around
disquising balance sheets, etc...
As an Engineer and Statistician the only thing that I have realized with any
consistency in trading is technical analysis.
Combined with robust algorithms for reliability, technology, and hard work,
everyone's future in their own hands and
it would be ridiculous to try and average any group from small to large,
etc... with a percentage.
In fact, the greatest variability of all is man, so why would man performing
a complex task like trading be classified into a single percentage?
There is plenty of opportunity to make money, and even more to lose it. Its
easier to make better percentages with less capital,
and easier to make more money with more capital (or lose in both cases). I
would assume though, that the
distribution is paretoed near the bottom for returns.
Phil
> -----Original Message-----
> From: Mark Simms [mailto:mar.ko@xxxxxxxxxxx]
> Sent: Saturday, October 02, 2004 1:52 PM
> To: omega-list@xxxxxxxxxx
> Subject: FW: % return and trading futures vs. stocks
>
>
> re: "Hear nowadays he mostly cries that there's nothing left to buy. Now
> THAT's a problem."
>
> Well if Warren Buffet is so good then,
> why isn't he SELLING SHORT some stocks ?
>
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