Q: Warren, your approach seems so simple, why doesn't everybody else do it?
Warren: Well i think partly because it is so simple. the academics for example focus on all kinds of variables - and the data is there, so they focus on whether you buy stocks on Tuesday and sell them on Friday you're better off, or if you buy them in election years and sell them in other years you're better off, or if you buy small companies - there are all these variables - because the data are there; and they learn how to manipulate data. And as a friend of mine says, 'to a man with a hammer everything looks like a nail.' And once you have these skills you just are dying to utilize them in some way, but they aren't important...If I were being asked to participate in a business opportunity would it make any difference to me if I bought it on a Tuesday or a Saturday or an election year or something? It's not what a businessman thinks about in buying businesses, so why think about it when buying stocks? Because stocks are just pieces of businesses.
