Few Bets, Big Bets, Infrequent Bets


“A few major opportunities clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind, loving diagnosis involving multiple variables. And then all that is required is a willingness to bet heavily when the odds are extremely favorable, using resources available as a result of prudence and patience in the past.”

- Charlie Munger

I recently wrote an article on Seeking Alpha that discussed five different decisions that Warren Buffet, Charlie Munger, and Rick Guerin made during the late 60's to late 80's that turned out to be really successful for them.  Mohnish Pabrai gave a lecture at the University of California, Irvine in June of 2017 and that speech talked about these five decisions in great detail and that is what got my ideas flowing to write this article.

Those 5 decisions were:

(1.) Taking control of Blue Chip Stamps