Uncle Warren

I am no fan of Warren Buffet. Maybe it is pure jealousy or maybe because he simplicity shows the inferiority in my bad trades. However, I have begun to read the book "Snowball" about the life of Warren Buffet. This has lead me to begin reading books about sports handicapping. Ironically, I have heard some investors compare investing to horse racing. One rule is that the gambler does not have to win it back the same way you lost it. I have bought a stock at the opening, seen it fall quickly and attempted to make it back by buying or shorting another stock immediately. The reason I think Buffet's style agitates me is that I am impatient. Telling individuals that you can make them a guaranteed 18% in two years does not seem to get their attention. However, I can make you 18% in 30 days, stops them in their tracks. That is why Ponzi schemes are so successful. But while investing and gambling are different there is a great deal of overlap. Consequently to be successful in either you need discipline.