How to Prepare for the Next Crises

Last year, I told you about the idea of the coffee can portfolio… A coffee can portfolio is one you set and leave alone for 10 years. A reader recently wrote to say it seemed to depend on an optimistic view, à la the one Warren Buffett expressed in his latest annual letter. Today, I want to…

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Eight Unusual Rules to Help You Become a Better Investor

Where do great investors come from? I’m not sure what the hurdle rate for greatness is, but Guy Spier has put up impressive results. His Aquamarine Fund has returned 463% since inception in 1997, versus just 167% for the S&P 500 (a broad proxy for the market). Put another way, $1 million invested at the…

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A Triumph of Lethargy and Sloth

It’s an inspiring tale… a triumph of lethargy and sloth.And if you take its wisdom to heart, you’ll be ahead of 99.9% of your fellow investors.The tale – and the wisdom – comes from Robert Kirby.Kirby was a great money manager who wrote a lot of wise things about investing. He was active in the…

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Secrets of a Low Cost Life

In the summer of 1920, Ralph Borsodi stumbled on a life-changing insight – and one that we can apply today. It all began when his wife canned tomatoes for winter use. Ralph, having “an incurable bent for economics,” wondered if it paid – or if they were better off just buying canned tomatoes from the…

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