The tax code gives you an enormous advantage if you can find some things you can just sit with.
Charlie MungerIt would be nice if this [finding really cheap stocks] happened all the time. Unfortunately, it doesn't.
Charlie MungerHere's one truth that perhaps your typical investment counselor would disagree with: if you're comfortably rich and someone else is getting richer faster than you by, for example, investing in risky stocks, so what?! Someone will always be getting richer faster than you. This is not a tragedy.
Charlie Munger