The Importance of having a Long-Term Time Horizon “It is just appalling the nerve strain people put themselves under trying to buy something today and sell it tomorrow. It’s a small-win proposition. If you are a truly long-range investor, of which I am...
“In theory, there is no difference between practice and theory. In practice, there is.” Yogi Berra In 1950 – to pick a year at random -the S&P 500 index...
Zen Buddhism has a concept called mujo, or impermanence – constant change. It is in fact the only constant that investors can rely on. Change is, and always has been inevitable. As investors, we have to accept and accommodate change, understanding that we...
Table Stakes In 1999, at the height of the last technology-telecom-media bubble, the Nasdaq index rose by 84%. By comparison, the Russell Large Cap Value index returned 6.7% while Warren Buffett’s Berkshire Hathaway actually declined by 25%. Following that year, where...
Legend has it that long ago in India, there lived a Raja who believed that he was wise and fair. He wasn’t. Every year he kept nearly all of the people’s rice for himself. Then when famine came, the Raja refused to share the rice, and his people went hungry....
