Buffett and Munger have a personal "20-Holes" theory of life.
The core idea is: imagine all investment opportunities in life as a card with only 20 holes. Each time you invest, you punch a hole. Once all holes are punched, you can't invest anymore.
To be even more strict, each hole should be one where you're willing to risk your entire fortune. In fact, you only need to make two or three such investments in life.
Looking back over the past ten years, I’ve actually only punched one hole—BTC. This year's goal is to find the second one.
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Buffett and Munger have a personal "20-Holes" theory of life.
The core idea is: imagine all investment opportunities in life as a card with only 20 holes. Each time you invest, you punch a hole. Once all holes are punched, you can't invest anymore.
To be even more strict, each hole should be one where you're willing to risk your entire fortune. In fact, you only need to make two or three such investments in life.
Looking back over the past ten years, I’ve actually only punched one hole—BTC. This year's goal is to find the second one.