Fear drives all in today’s world. Two operations who have not let fear dictate their trading are Berkshire Hathaway and Dunn Capital. Both have 40+ year track records that should be studied. What was their system? How has it worked? If you look at the month by month and year by year of these two much can be learned. Both track records have not just gone up, up, up–they have had massive drawdowns (at least by the definitions of mortals) and still they have been able to persevere. No matter who you are, the ability to adapt to the markets is mission critical.
In this episode of Trend Following Radio: