How to Overdose on Munger and Graham

I switched from basically a growth tech investor into a Graham investor. That actually turned out to be really wonderful because all the indices did terribly for the next 10, 15 years as they were just so elevated. But what I forgot to do is I should have switched back in maybe 2013 or 2014. The best way to invest is to own a stake in a business which generates high returns on capital and has a long growth one way ahead. If you can find that combination, sometimes even if you pay up for that combination, it can work out quite well.

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