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by bluGill 1017 days ago
Warren Buffet has stated the markets should be open only one day per year before. I can't find his exact words though.

It would equalize the field. However it also means unexpected expenses cannot be handled. Furnace breaks, even though you have plenty of $$$ in stocks you are unable to get it fixed. (I know a retired person who was forced to buy a new car with cash because the bank didn't accept their > $million in investments as proof they could pay for a small loan)
1 comments
steveklabnik 1017 days ago
I believe you're slightly mis-remembering; the quote that I'm aware of is "Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years."

It's a statement about strategy, not about suggesting regulation.

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bluGill 1017 days ago
He has said that type of thing a lot more often. I seem to recall the suggestion the market shutdown except for once a year as well. As I recall he admitted that it wasn't workable.

Or maybe I remember wrong.

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