University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

by Daniel Pecaut

As Buffett puts it, “When you build a bridge, you insist it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it.” Over time, diversified portfolios of such stocks have provided superior returns with below-average risk.