Hi Poi,

I would agree, great rule.  Additionaly, I think it ALWAYS pays to be risk-conscious.  The problem with Buffets rule is its not the easiest to implement is it?  I dont think he meant thats it OK to ride something down as long as you dont sell it.  So how does one implement this rule........  Just by never selling?

I dont subscribe to the notion that its not a loss unless you sell.  It just seems like one of those things people say that makes no sense to me.  I mean yeah sure your locking it in if you sell, but its still a loss regardless that has to be made up.  Just semantics I think.

Lets face it, anything could happen.  Scotts investments could be devastated and take 20 years to recover, who knows?

This is why it is important to have a well thought out plan, one that you can stick with, especially when risk shows up.

What the hell do I know, just another fool on the internet, losing money like Scott!

Good night!