“How to Guarantee a Life of Misery”

It's not given to human beings to have such talent that they can just know everything  about everything all the time. But it is given to human beings who work hard at it—who  look and sift the world for a mispriced be—that they can occasionally find one.  And the wise ones bet heavily when the world offers them that opportunity. ... See more

The way to win [in the markets] is to work, work, work, work and hope to  have a few insights.  How many insights do you need? Well, I'd argue: that you don't need many in a  lifetime. If you look at Berkshire Hathaway and all of its accumulated billions, the top ten insights account for most of it.