We read a great piece recently from Shane Parrish on his thoughts from his trip to the Berkshire Hathaway annual shareholders meeting. This really resonated with us.
“The point is that the answers stay the same.”
We know that Coffeehouse Investors grow tired of hearing the same three principles repeated – save for a rainy day, don’t put all your eggs in one basket, and there is no such thing as a free lunch. But the game never changes, our rules never change. Our same three investment principles apply regardless how the market performs. Investors search our website for the magic formula, but we don’t believe investment success is determined by stock picks. Rather, investment success is often attributed to one’s determination to stick to a long-term plan.
So, if you find yourself out there searching, just remember … save for a rainy day, don’t put all your eggs in one basket, and there is no such thing as a free lunch.