Feeling smart …like the duck

September 21, 2007

In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond. Letter to Berkshire Hathaway shareholders, 1997.

I generally check my portfolio performance once a month and with a runaway stock market (YTD +18% ) , it is diffcult to do badly. So I felt smart – like the duck J. You have to just throw darts on a stock list to make money these days. Lets see what happens after the music stops !

So are you feeling like the duck?

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