“Sit on your ass investing. You’re paying less to brokers, you’re listening to less nonsense, and if it works, the tax system gives you an extra one, two, or three percentage points per annum.” – This important investment philosophy assumes that one is better off buying a business with exceptional business economics working in its favor and holding it for many years than engaging in a lot of buying and selling, trying to anticipate market trends. Constantly buying and selling means constantly being taxed. If one holds an investment for twenty years there is only one tax to pay, which,
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