I never read any books about Warren Buffett. I respect the old man. Our investing style is very similar; the only different is that I am still young. If I were a young Buffett, what would I do? I would do what I been doing. I would need to have more courage and discipline just to be at his skill. I learn my investing skill from the same teachers that taught Warren Buffett.

Warren Buffett vs. New Young Buffett
I am sure that everyone is working hard to be the next Buffett. I don’t want to be the next young Buffett. I want to be the next young Graham and Fisher. The only reason for that is I read their books and I learned most of my investing from them. I respect them as my teachers who taught me so much about investing. I guess the hardest thing for me is that I have to believe in my abilities. I listen to the market too much and let the market become my master. I sell when the market is telling me to sell.

The Young Buffett’s Strategies
I would like to have the courage to hold outstanding company almost forever. I like to buy trash that I believe can become gold. I don’t like to pay too much for any stock. I like at least 30 percent discount. I like to have some margin of safety. The market doesn’t really scare me even though we’re in a recession. I just keep buying more outstanding and promising companies that are really cheap. I like to find quality companies that can be a great long-term investment. I don’t want tech companies such as (XMSR) XM Satellite Radio, Sirius Satellite Radio, or (VMW) VMware that I don’t really understand and know much about.

Final Thought
Compare to Buffett, Graham and Fisher, I am still learning. My investing need a lot of touch up compare to those three. I also want to prove to the person that said that old wisdom doesn’t work in current market. I think he is full of himself to say those comment. If Graham was alive, then he would have already saw the tech bubble and the housing bubble before it happen. The reason for that is because he already lives through it. When people are pushing tech stocks and housing stocks to dangerous level, it was bound for a crash.

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