Think of Warren Buffett, who has famously said, “Our investment philosophy borders on lethargy.”5 What he means is that he and his firm make relatively few investments and keep them for a long time. In The Tao of Warren Buffett, Mary Buffett and David Clark explain: “Warren decided early in his career it would be impossible for him to make hundreds of right investment decisions, so he decided that he would invest only in the businesses that he was absolutely sure of, and then bet heavily on them. He owes 90% of his wealth to just ten investments. Sometimes what you don’t do is just as
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What you do its just as important as what you not do.
