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bar1080

11/10/21 10:52 PM

#798 RE: MiamiGent #795

They have wider swings, but worse performance long term. Similarly, unexciting low-beta stocks outperform. If you go to a horserace you may have more fun with longshots, but stodgy favorites will make you money.

That's something Buffett learned from selling horse race tip sheets as a teen.

https://maidenking.com/2009/02/11/from-2-win-bets-to-billions-it-all-started-for-warren-buffett-at-the-race-track/