Cramer: Do You Pass Buffett's Investing Test?

NEW YORK (Real Money) -- Warren Buffett's common sense is so out of step with the current zeitgeist that you can only marvel how he can even bear talking about stocks with anyone anymore.

That's what I felt the whole time I watched in awe at the interview our own Rhonda Schaffler snared with the Oracle this weekend at the annual Berkshire pilgrimage.

 

Take this gem right at the beginning of the interview: "(i)t's going to go down some time if you are going to buy a stock."

I know, pretty logical, simple, yet completely misunderstood by so many in this current generation of stock owners, if we can call them that. Most people who comment on their stocks, at least on Twitter, seem to think that only bad stocks go down and that good stocks are immune to everything. Buffett accepts that stocks do go down and says if you can't handle that, it is your problem, not the problem of the stock!

Buffett may not have known it, but throughout the interview he was offering a radical refutation of how people comment on stocks in this current age of social media. Buyers these days often think that there is a wicked conspiracy against them when their stocks go down and that only losers own stocks that go down and therefore they are losers and they need to blame someone for their loserdom.

Buffett famously doesn't pay attention to the day-to-day fluctuations in his portfolio.

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