WFC - Charlie Munger's 'Buy And Hold' Thesis May Seem Tame But It Worked For Berkshire Hathaway | Benzinga
“The whole secret of investment is to find places where it is safe and wise not to diversify,” were the words of Charlie Munger, who died on Tuesday at the age of 99. This principle stood as one of the central tenets of his approach to investing.
Working on the belief that good investment ideas are few and far between — “Life is not just bathing you with unlimited opportunities” — Munger held very few stocks in his personal investment portfolio.
But those he did hold, he was rigidly committed to. At his death, Munger owned stock positions in just three companies:
Berkshire Hathaway (NYSE:BRK) (NYSE:BRK): Munger was vice-chairman and helped chairman Warren Buffett turn the company from a textiles manufacturer into a large insurance and investment conglomerate.
Buffett began buying shares in Berkshire Hathaway in 1962, believing it to be undervalued, and by ...