Praveen Chawla
Mr. Buffett, who's run Berkshire for 58 years, wrote in his most recent letter:
Most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck....Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years.
Let that sink in:
One of the world's best investors attributes nearly all his superior performance to approximately 12 decisions.
Warren Buffett gets good ideas roughly twice a decade.
If you're getting what seem like good investing ideas twice a year, twice a month, twice a week, twice a day, twice an hour, how likely are they to make a meaningful, enduring contribution to your long-term results?
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THE INTELLIGENT INVESTOR Wisdom from Warren By Jason Zweig
