Trust Good Companies or Good Prices?
If you invested $5 in $Walt Disney(DIS)$ back in 2015 today you have $5.
If you had invested $5 in the Shanghai Composite Index $SSE Comp(000001.SH)$ in 2014, today you would have finally broken even with your $5.
Before meeting Charlie Munger, Buffett's investment style leaned more towards finding cheap stocks, without paying much attention to a company's long-term growth potential.
However, in his later years, Munger's influence gradually led Buffett to focus on "buying good companies and holding them for the long term,"
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