19-08-2018, 09:34 PM
(17-08-2018, 06:34 PM)specuvestor Wrote: [ -> ]-You don’t need to be an expert in order to achieve satisfactory investment returns. But if you aren’t, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don’t swing for the fences. When promised quick profits, respond with a quick “no.”
http://fortune.com/2014/02/24/buffetts-a...vestments/
This is a very good article and it is one of the few instances where WB is explicit in his explanation.
Unfortunately, most of the easier-to-understand and 'good' companies are sold at not-cheap valuations.
My way around this is to follow lots of companies, identify the good ones that you can understand, and wait for opportunities to buy them cheap.