#13 The Contrarian
Behind the Balance Sheet
Is It Safer to Invest in Russia Than in Cocacola?
Rip van winkle once said that it was safer to invest in russia than coco cola. But by two thousand and seven, even though the russian market went down 90 % after i had said that remark, it was up about three times. And so it was the silliest thing i've ever said. The point of it is that volatility is that it was an exaggerated way of saying that i think investors pay too much attention to volatility. If they are truly long term investors, then they don't need to worry about fluctuations from year to year, month to month, quarter to quarter. They should be prepared to take probably greater volatility than has become customary in
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