Those who live very long lives sometimes face an unfair irony: The accomplishments of even towering figures can lose their luster over time—not because they’re proven wrong but because the ideas they developed become so widely accepted that we forget they were once new. The investment world lost one [...]
Change in plans
In 2014, an investor asked Charlie Munger—Warren Buffett’s second-in-command—why he wasn’t investing in Apple. Munger responded that, “No matter what their financial statements showed,” he’d never have a high degree of confidence in the company. “It’s just too hard.” Buffett agreed. But things [...]
Staying the course
Wall Street analysts, magazine editors, economists, academics—they’ve all found it virtually impossible to make accurate market forecasts. That’s why Vanguard Group founder Jack Bogle gave this advice to investors: When markets go haywire, “don’t do something. Just stand there.” Warren Buffett [...]
Avoiding the incinerator
A while back, I was speaking with the manager of a mutual fund. In describing one of the stocks in his fund, he noted: “I owned it for a while, then I sold it, but then I bought it back.” It was a surprising comment since frequent trading is, in most cases, generally unproductive. Indeed, Warren [...]
Easy Money
Finance can be complicated—but it doesn’t have to be. How can you simplify your financial life? Below are 10 ideas. 1. Tracking donations: In the old days, it wasn’t too difficult to track charitable gifts. You would simply refer back to your checkbook. But today, most people have debit and [...]
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