Top five lessons from Warren Buffett's 50th annual letter

Intelligent Investor

Independent Financial Research

Top five lessons from Warren Buffett's 50th annual letter. Lesson 2: Stock prices will always be far more volatile than cash-equivalent holdings. Over the long term, however, currency-denominated instruments are riskier investments - far riskier investments - than widely-diversified stock portfolios that are bought over time and that are owned in a manner invoking only token fees and commissions... Volatility is far from synonymous with risk. ... As Ben Graham said many decades ago: 'In the short-term the market is a voting machine; in the long-run it acts as a weighing machine. Lesson: Volatility ≠ Risk. Read all five lessons via the full article here: (VIEW LINK)


Intelligent Investor
Independent Financial Research

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