Buffett on Diversification

The following article is an excerpt from Buffett Partnership Letters, January 20, 1966 Last year in commenting on the inability of the overwhelming majority of investment managers to achieve performance superior to that of pure chance, I ascribed it primarily to the product of: “(1) group decisions – my perhaps jaundiced view is that it […]

Warren Buffett: Quantitative vs Qualitative Investing

In Buffett Partnership Letter October 9, 1967, Buffett said, “The evaluation of securities and businesses for investment purposes has always involved a mixture of qualitative and quantitative factors. At the one extreme, the analyst exclusively oriented to qualitative factors would say, “Buy the right company (with the right prospects, inherent industry conditions, management, etc..) and […]