If you want to make fewer mistakes, make fewer decisions.

Praveen Chawla GuruFocus PremiumPlus Icon Mar 13, 2023

Mr. Buffett, who's run Berkshire for 58 years, wrote in his most recent letter:
Most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck....Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years.

Let that sink in:

One of the world's best investors attributes nearly all his superior performance to approximately 12 decisions.

Warren Buffett gets good ideas roughly twice a decade.

If you're getting what seem like good investing ideas twice a year, twice a month, twice a week, twice a day, twice an hour, how likely are they to make a meaningful, enduring contribution to your long-term results?

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