Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway's Vice Chairman on Life, Business, and the Pursuit of Wealth With Commentary by David Clark

by David Clark

He has never been a fan of diversification as an investment strategy.

and selling means constantly being taxed. If one holds an investment for twenty years there is only one tax to pay, which, according to Charlie, equates to an extra 1 to 3 extra percentage points of profit per year.