If This Is A War, My Side

To Invest Successfully, You Need Not Understand Beta, Efficient Markets, Modern Portfolio Theory, Option Pricing Or Emerging Markets. You May, In Fact, Be Better Off Knowing Nothing Of These. That, Of Course, Is Not The Prevailing View At Most Business Schools, Whose Finance Curriculum Tends To Be Dominated By Such Subjects. In Our View, Though, Investment Students Need Only Two Well-taught Courses - How To Value A Business, And How To Think About Market Prices.

When We Really Sit Back With A Smile On Our Face Is When We Run Into A Situation We Can Understand, Where The Facts Are Ascertainable And Clear, And The Course Of Action Obvious.

I Think You Should Read Everything You Can. In My Case, By The Age Of 10, I'd Read Every Book In The Omaha Public Library About Investing, Some Twice. You Need To Fill Your Mind With Various Competing Thoughts And Decide Which Make Sense.

Anyone Who Believes A Growth Rate In Excess Of 15% Per Annum Over The Long Term Is Attainable Should Pursue A Career In Sales, But Avoid One In Mathematics.

If You Gave Me $100 Billion And Said Take Away The Soft Drink Leadership Of Coca-cola In The World, I'd Give It Back To You And Say It Can't Be Done.