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Warren Buffett says this far better in his 2005 letter to Berkshire shareholders. Relevant excerpt from CNN: http://money.cnn.com/2006/03/05/news/newsmakers/bu
by vitaminj 18y ago
Warren Buffett says this far better in his 2005 letter to Berkshire shareholders.
Relevant excerpt from CNN:
http://money.cnn.com/2006/03/05/news/newsmakers/buffett_fortune/index.htm http://money.cnn.com/2006/03/05/news/newsmakers/buffett_fort...
Original source: http://www.berkshirehathaway.com/letters/2005ltr.pdf http://www.berkshirehathaway.com/letters/2005ltr.pdf
(you'll have to wade through to page 17)
- helveticaman 18y agoI see one flaw here: having people pick the best stocks can increase wealth by allocating money to where it is most efficient. For instance, going back in time to 1965 and investing in Toyota instead of GM would not only have been a very lucrative move, but increased Toyota's ability to create wealth by increasing its access to capital.