Yeah, I caught that.
I tend to shun stocks in fields I've lost money in. No airlines for me or banks. As I get older that increasingly limits what I buy. LOLOL! People accuse BRK of being an Index fund but Buffett does focus on fields he knows well, especially insurance. He's under-invested in tech and fad stuff. No Fitbit or Snap Chat for Warren. Munger has talked about the advantages of being older. Older investors really are often the best investors. I kinda knew that even when I was starting out.
What I especially don't understand are investors turning over discretionary trading power to their broker. I suspect that tons of Edward Jones reps failed in selling cars and aluminum siding before they moved to stocks. Wouldn't trust many of them. Some things just can't be totally delegated. Heck, I'm thinking of running for president.
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Because the Good Life is Just a Pump or Two Away
