“I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches—representing all the investments that you got to make in a lifetime. And once you’d punched through the card, you couldn’t make any more investments at all. Under those rules, you’d really think carefully about what you did and you’d be forced to load up on what you’d really thought about. So you’d do so much better.” - Warren Buffett
“To me, This (The 20 punch card) concept always seemed like a no-brainer. Obvious that the winner has to bet very selectively, It’s been obvious to me since very early in life. I don’t know why it’s not obvious to many other people.” -Charlie Munger
Just thoughts to ponder on a rainy afternoon,
- Scoot
"Investors have been so oversold on diversification that fear of having too many eggs in one basket has caused them to put far too little into companies they thoroughly know, and far too much in others which they know nothing about “- Phil Fisher
“To me, This (The 20 punch card) concept always seemed like a no-brainer. Obvious that the winner has to bet very selectively, It’s been obvious to me since very early in life. I don’t know why it’s not obvious to many other people.” -Charlie Munger
Just thoughts to ponder on a rainy afternoon,
- Scoot
"Investors have been so oversold on diversification that fear of having too many eggs in one basket has caused them to put far too little into companies they thoroughly know, and far too much in others which they know nothing about “- Phil Fisher