Stock picking skills

I would like to add a comment about Buffet. He buys, often the entire company, and holds. That isn’t the same stock picking game we are talking about. Sure he uses financial analysis but he isn’t trying to beat the market over the next 90 days, more like the next 90 years. He simply finds great companies and buys them for reasonable prices and keeps them. A far cry from what a mutual fund manager does. He understands the businesses he’s in fully. If he doesn’t understand it, he doesn’t buy it (how many fund managers can say that?). He really isn’t an apples for apples comparison with someone that is touting their stock picking skills.

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