Thursday, January 7, 2010

David Winters (WealthTrack -- Video Interview)



"...you know the other thing is that because of this crash that we've been through, you can buy quality. And what we've tried to do is not go for the short-term trade, you know, Buffett's called it the cigar butt. that you pick up the smoked cigar butt off the street but rather let's get something fabulous that we can own for years and will be a compound money machine."

"...we live here and we earn, generally, our money in dollars, and the thing to do is to hedge your bets, and that's the idea of really what the original hedge fund was. It doesn't mean you can always make money but like Nestle, you're making money in streams of income around the world and that's what Schindler is doing. That's what Richemont is doing, that's what Jardine, more or less, is doing. And that's what we think makes a lot of sense for individuals to do today, and to also realize that you've got to be a buyer when people are panicked and you have got to think long-term, and unfortunately, that is not what people are encouraged to do, and that's how you get rich. The richest people in the world, that's what they do."

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