Just finished reading this book;
. It is an investment tragedy for a sort to think people have owned these stocks (100 baggers stocks) and not reaped those gains because they were trying to time the market or trade in and out.
. To make money in stocks you must have the Vision to see them, the Courage to buy them and the Patience to hold them. Patience is the rarest of three.
. If a business earn 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you will end up with fine result. _Charlie Munger
. A truly great business must have an enduring MOAT that protects excellent returns on investment capital.
. A company with a moat can sustain high returns for longer than one without. That also means it can reinvest those profit at higher rates than competitors.
. People often do dumb thing with their portfolio just because they’re bored. They feel they have to do something. If you can find ways to fight boredom and not take it out on your portfolio, your returns will benefit.
. Instead of planning the guessing game, focus on the opportunities in front of you. And there always, in market, many opportunities.
. The great investors concentrate on their best ideas.
. The best ideas are often the simplest
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