Chris left us with three quotes that perfectly encapsulated his speech at the recent Family Wealth Forum in Rancho Santana:
The first is from David Swenson, the Yale Endowment CIO. Swenson said, “Don’t try anything fancy. Stick to a simple, diversified portfolio, keep your costs down and rebalance periodically to keep your asset allocations in line with your long-term goals.”
The next quote is from Warren Buffett, talking about Charlie Munger, his partner at Berkshire Hathaway. According to Warren Buffett, “Charlie and I always knew we would become very wealthy, but we weren’t in a hurry. If you’re even a slightly above-average investor who spends less than you earn, over a lifetime you cannot help but get very wealthy, if you are patient.”
The final quote is from Bill: “Think a lot, do very little.”
Do you have any quotes to add that capture your investment philosophy?