Five things in common?
1. I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
2. It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
3. Our favorite holding period is forever.
4. We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'
5. Wide diversification is only required when investors do not understand what they are doing.
Those are genuine quotes from the investing legend. I should have diversified more widely.
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3 comments:
A few more good quotes:
"When a management with a reputation for brilliance takes on a business with a reputation for fundamentally poor economics, it's the business that maintains its reputation."
"The market can remain irrational for longer than you can remain solvent."
WB is just great. I agree I need to follow his rules ... but how do I start...
Thanks for sharing these important information.
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