Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’
Last Updated: April 22, 2021 at 11:18 a.m. ET
First Published: April 22, 2021 at 7:18 a.m. ET
As the old joke goes, St. Peter had some bad news for an oil prospector who appeared at the pearly gates of heaven: “You’re qualified for admission,” said St. Peter, “but, as you can see, the section for oil prospectors is packed. There’s no way to fit you in.”
After a moment, the prospector asked to say just four words to the present occupants. That seemed harmless to St. Peter, so the prospector yelled, “Oil discovered in hell!” Immediately, most of the oil prospectors stampeded out for the nether regions. Impressed, St. Peter invited the prospector to move in and get comfortable. The prospector paused, saying “No, I think I’ll go along with the rest of them. There might be some truth to that rumor after all.”