In Other Words, The Percentage Change In

There Is One Thing Of Which I Can Assure You. If Good Performance Of The Fund Is Even A Minor Objective, Any Portfolio Encompassing One Hundred Stocks (whether The Manager Is Handling One Thousand Dollars Or One Billion Dollars) Is Not Being Operated Logically. The Addition Of The One Hundredth Stock Simply Can't Reduce The Potential Variance In Portfolio Performance Sufficiently To Compensate For The Negative Effect Its Inclusion Has On The Overall Portfolio Expectation.

People Will Always Try To Stop You From Doing The Right Thing If It Is Unconventional.

When A Management With A Reputation For Brilliance Tackles A Business With A Reputation For Bad Economics, It Is The Reputation Of The Business That Remains Intact.

I Have A Wonderful Family. I Have A Job That I Love And Wonderful People Who Help Me With It. It Can't Get Any Better Than That.

Most Investors, Both Institutional And Individual, Will Find That The Best Way To Own Common Stocks (shares') Is Through An Index Fund That Charges Minimal Fees. Those Following This Path Are Sure To Beat The Net Results (after Fees And Expenses) Of The Great Majority Of Investment Professionals.