OTOH, as soon as you're a very big investor, you can't really invest a ton of money in, say, a small, discounted stock. Let's say you have ten billions to inves

OTOH, as soon as you're a very big investor, you can't really invest a ton of money in, say, a small, discounted stock. Let's say you have ten billions to invest and you find that cute little company at an incredible discount, with a market value of 100 million bucks. Just investing 0.5% of your capital in that stock would mean buying half the company, which would make its price raise dramatically (if it were at all possible). But if you only had 100 millions to invest... I'm pretty sure I've seen Buffett say more than once something like "if only I didn't have all those billions to invest, I would be able to make more money".