You know, my degrees are in computer engineering. I spent a lot of time in the tech industry. And I like to say that I don't invest in tech because I spent time in it. And I saw firsthand that the durability of technology moats is many times an oxymoron.
Copy Quote View & ShareThe single biggest advantage a value investor has is not IQ. It's patience and waiting. Waiting for the right pitch, and waiting for many years for the right pitch.
Copy Quote View & ShareMistakes are the best teachers. One does not learn from success. It is desirable to learn vicariously from other people's failures, but it gets much more firmly seared in when they are your own.
Copy Quote View & ShareYou don't make money when you buy stocks. And you don't make money when you sell stocks. You make money by waiting.
Copy Quote View & ShareMistakes are the best teachers. One does not learn from success. It is desirable to learn vicariously from other people's failures, but it gets much more firmly seared in when they are your own.
Copy Quote View & ShareThe problem most nonprofits have is that they are run by romantics who are great to hang out with, but they have no clue.
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