Wednesday, December 28, 2016

Charlie Munger on Sit-on-Your-Ass Investing

From Poor Charlie's Almanack:
If you buy something because it's undervalued, then you have to think about selling it when it approaches your calculation of its intrinsic value. That's hard. But if you buy a few great companies, then you can sit on your ass. That's a good thing. 
We're partial to putting out large amounts of money where we won't have to make another decision.