How did #Buffett do it so well for so long? He’s brought five main traits to his investing:
An alert, quick, accurate, and decisive mind that gives him the ability to form reliable investment judgments.
Simplicity of thought, getting right to the heart of the matter in analyzing each investment.
The ability to distinguish good investments from bad ones, and great investments from merely good ones—and the insight and conviction to stick with the best ones over time. Buffett, to paraphrase the investment guru Peter Lynch, never cut his flowers or watered his weeds.
The ability to stay focused over long periods and avoid distraction.
The mental agility to alter his strategy when he found a way to improve, such as when he came to more significantly emphasize the quality of a business in his decision making.
How Warren Buffett Did It, Seth Klarman
