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AsianBookie Horse Tipster
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- Warren Buffett goes on to say: Charlie Munger and I are decided long ago that in an investment lifetime, it’s just too hard to make hundreds of smart decisions. That judgement became ever more compelling as Berkshire’s capital mushroomed and the universe of investments that could significantly affect our result shrank dramatically. Therefore, we adopted a strategy that required our being smart- and not too smart at that- only a very few times. . . "You are not supposed to bet every races" - Warren Buffett "They say, the horse runs just fast enough to win." - Warren Buffett . . Charlie Munger teaches that the market is actually quite efficient most of the time. He likens the market to a pari-mutual race track where the odds generally reflect the capabilities of the various horses. Charlie Munger goes on to say that in spite of this situation, there are a select few people who are able to make good money betting on horses, even after the track taking 17% off the top. They do it by totally focusing on nothing but the performance of the horses and waiting – as long as it takes – until they see an anomaly where the odds are clearly in their favor. Then they bet heavily.
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