Perhaps the expansion secret lies not in building more rail lines, but instead, building a new innovative form of bulk transport that can piggy back on the interstate system without adding much congestion. i.e. not more trucks.

In general, I’d think that railroads are a horrible investment, but as you pointed out there were obvious tactical strategies that made that investment make sense. That’s why Buffet is the billionaire.

As a value investor, I agree entirely with your last statement.

I think your criticism of Buffet speaking simply is one of the reasons he is so successful. He knows how to value a company, knows how to interpret a balance sheet, and knows how to read an income statement. He recognizes strong book value per share and a value when it exists. He also only buys companies where he can understand the business model. That means no tech companies (for the most part).

That is what leads to the success. He is patient and buys what he understands. If we all did that, and looked for value over sexy stocks, we might all do a bit better.

I’d like to work in finance as an analyst. Long-term goal is to earn my CFA. Until then, I’m just an undeclared (F— prereqs, basically) finance major who wanted an outlet to talk about finance/business. So I started a blog. I work in marketing.

I need to make my disclaimer bigger. LOL.