“there are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more money in a business that's still going to be lousy. The money still won't come to you. All of the advantages from great improvements are going to flow through to the customers.” GivingKindStillsOpportunityWonderfulAdvantageFlowInvestingCustomersImprovementInventionAll KindsOwnersMore MoneyNew Inventions Author:Charlie Munger
“The best way in my view is to just buy a low-cost index fund and keep buying it regularly over time, because you'll be buying into a wonderful industry, which in effect is all of American industry... People ought to sit back and relax and keep accumulating over time.” PeopleWayViewsWonderfulEffectsIndustryOughtCostLowsInvestingBest WayBuyingRelaxFundIndex Funds Author:Warren Buffett
“If you know how to value businesses, it's crazy to own 50 stocks or 40 stocks or 30 stocks, probably because there aren't that many wonderful businesses understandable to a single human being in all likelihood. To forego buying more of some super-wonderful business and instead put your money into #30 or #35 on your list of attractiveness just strikes Charlie and me as madness.” IfsKnowsHumansValuesHuman BeingsKnow HowWonderfulCrazyMadnessInvestingStrikesListsBuyingCharlieLikelihoodAttractivenessDiversification Author:Warren Buffett
“If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.” IfsWholeProblemWonderfulAdviceTaxesPaidTradeInvestingBunchBest ThingsThings To DoCash Author:Warren Buffett