For a long time, Mr. Warren Buffett held the post of the best long time investor. His investing philosphy is simple. He would identify a company that he thinks would do well in future, make sure that the managers running the company are good and invest heavily in them. Finally he would wait and wait and wait ... Over a period of time (he is still waiting) his investment would sit there, multiply under the ever increasing compound interest.
But I guess very soon there would be a new long term investor .. ME (Mr. Buffett is still waiting with his stocks). I wanted to be someone who would invest for a short period, turn inventory and make quick buck. I wanted to buy stocks, make intra-day trades mostly or hold on for atmost a week and cash in. But looking at the current movements in the Indian stock market, I am bound to become a long term investor. I simply can not sell they reach the levels I bought them at. This is indeed a bad investing philosphy considering that I might end up with a lot more loss than if I had had a stop-loss figure and exited in time.
I hold Mr. Buffett in vey high regard and I wish someday I could get even 1% of what he is today. This post is just to indicate that Indian Stock Markets are very very volatile at this moment.
P.S.: I want to go and work for him some day ... :)
If someone is interested in reading about Charlie Munger (he is the low-profile partner of Mr. Buffett) ... here are a few interesting links ...
Link 1 | Link 2 | Link 3