I found an article titled “Warren Buffett: A Legend Who Actually Lives Up To the Hype” on Yahoo Finance tonight. An excerpt:
Buffett’s genius is that beneath the homespun wisdom and self-effacing personality is an incredible intellect with an astute understanding of how to value stocks, which he learned from the legendary Benjamin Graham. Buffett is far from infallible, but this is one investor who deserves the accolades.
How does that jive with this? Do all the people who show up in Omaha really understand the derivative prowess of Buffett? More power to Buffett. He is a legend and deservedly so. I just have a gripe with the folksy-simple -investing-Ben-Graham-nonsense when it is clear he trades in ways that most of his audience of true believers could never comprehend.
