'Charlie Munger: "You have value investing, & growth investing, but now we also have “sit on your *** investing”, which is better. The problem with value investing is it requires too much work. First you have to find an undervalued stock & buy it cheap. Then you have to sell it when the price reaches or exceeds your calculated figure for its intrinsic value. Because this requires many decisions over a long period of time, Charlie Munger prefers his own method in which all you have to do is pick a really great company when it is very attractively priced, & then just sit on your ***. The great advantage being that it only requires one decision." End quote.
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