The Plan Itself Is Opportunism. There Is

There Is One Thing Of Which I Can Assure You. If Good Performance Of The Fund Is Even A Minor Objective, Any Portfolio Encompassing One Hundred Stocks (whether The Manager Is Handling One Thousand Dollars Or One Billion Dollars) Is Not Being Operated Logically. The Addition Of The One Hundredth Stock Simply Can't Reduce The Potential Variance In Portfolio Performance Sufficiently To Compensate For The Negative Effect Its Inclusion Has On The Overall Portfolio Expectation.

If I Knew Where I Was Going To Want To Live The Next Five Or 10 Years I Would Buy A Home And I'd Finance It With A 30-year Mortgage... It's A Terrific Deal.

I Asked Him What He Wanted To Do For His Career, And He Replied That He Wanted To Go Into A Particular Field, But Thought He Should Work For Mckinsey For A Few Years First To Add To His Resume. To Me That's Like Saving Sex For Your Old Age. It Makes No Sense.

Emotional Makeup Is More Important Than Technical Skill

My Job Is Essentially Just Corralling More And More And More Facts And Information, And Occasionally Seeing Whether That Leads To Some Action.