I am thinking back at my years of investing. I was reading an article from Money. Do you remember when Krispy Kreme Doughnuts was 44 dollars a share. During that time Warren Buffet was seen eating Krispy Kreme Doughnuts, and investors were wondering whether to buy Krispy Kreme share. I thought to myself this is so silly, Krispy Kreme is 52 week high. Why on earth should I buy because the Old Man is eating Krispy Kreme? The second thing is that selling doughnuts is a low margin business. Everyone in America and the World must eat doughnuts for me to buy that stock. Krispy Kreme was not a sound investment it not rocket science.

I was right on my judgment, skill and experience. I didn’t even touch Krispy Kreme with a ten foot pole. Please I have nothing against Warren Buffet. We learned investing by one person, and that person is Benjamin Graham. Ben is the person that I look up to the most even though the only memory of him is his book. The second person that I look up to the most is Phil Fisher for growth investing.

Warren Buffet doesn’t want you to follow his every moves. I think I know the reason for this, and the reason is that he want you to think for yourself. Don’t copy him. You can look at what he owned but do your own research. He want you to think for yourself. I want you to think for yourself that why I don’t show the stocks I owned in my portfolio.

I admit I do look at his holding but I always research the companies that he holds. I ask myself is this a good business that I want to be in? How does the company make money? Does the management think of only themselves? How much is the company long term debts?

In conclusion, DO NOT FOLLOW THE OLD MAN!!!!