Anand

“I don’t have any wonderful insights that other people don’t have. I just have slightly more consistently than others avoided idiocy. Other people are trying to be smart. All I’m trying to be is non-idiotic. I find that all you have to do to get ahead in life is to be non-idiotic and live a long time. It’s harder to be non-idiotic than most people think.”
― William Green, Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life

“Instead, he focuses narrowly on owning a few well-run businesses that earn attractive returns on capital and have the ability to keep reinvesting their free cash flow at high rates of return. And then he has the restraint to “leave things well alone.” He has held Markel for twenty-seven years and made more than one hundred times his money. He has owned Berkshire Hathaway for forty-two years. His largest holding, American Tower Corporation, has risen from seventy-nine cents per share to about $260 since 2002. By constructing an unhurried life in a tranquil place, Akre can “shelter” himself from the influence of other investors’ “brilliant ideas” and “stay focused completely on the things that work for us.” In essence, he’s discovered one well-stocked pond, and he’s content to fish there for the rest of his days. Or, as Akre puts it, “We can’t dance with all the ladies.” All”
― William Green, Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life

“The Art of Subtraction If there is one habit that all of the investors in this chapter have in common, it’s this: They focus almost exclusively on what they’re best at and what matters most to them. Their success derives from this fierce insistence on concentrating deeply in a relatively narrow area while disregarding countless distractions that could interfere with their pursuit of excellence. Jason Zweig, an old friend who is a personal finance columnist at the Wall Street Journal and the editor of a revised edition of The Intelligent Investor, once wrote to me, “Think of Munger and Miller and Buffett: guys who just won’t spend a minute of time or an iota of mental energy doing or thinking about anything that doesn’t make them better. . . . Their skill is self-honesty. They don’t lie to themselves about what they are and aren’t good at. Being honest with yourself like that has to be part of the secret. It’s so hard and so painful to do, but so important.”
― William P. Green, Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life

“My favorite story about Danoff’s intensity comes from Bill Miller, who recalls being introduced to him at an investment conference in Phoenix about thirty years ago: “I stuck out my hand and I said, ‘Nice to meet you, Will.’ And he didn’t hold his hand out. He just looked at me and said, ‘I’m gonna beat you, man. I’m gonna beat you.”
― William Green, Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life