jbraf Portfolio 1

Posted by: jbraf

Updated:
02.11.08
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"Many shall be restored that have now fallen and many shall fall that now are in honor." -- Horace's Ars Poetica from Benjamin Grahams, Security Analysis

"We will continue to ignore political and economic forecasts, which are expensive distractions for many investors and businessmen. Thirty years ago, no one could have foreseen the huge expansion of the Vietnam War, wage and price controls, two oil shocks, the resignation of a president, the dissolution of the Soviet Union, a one-day drop in the Dow of 508 points or treasury bill yields fluctuating between 2.8% to 17.4%.
But surprise--none of these blockbuster events ever made the slightest dent in Ben Graham's investment principles...Fear is the foe of the faddist, but the friend of the fundamentalist.

A different set of major shocks is sure to occur in the next 30 years. We will neither try to predict these nor profit from them". --Warren Buffett, From Buffett and Cuningham, "Essays"