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Finding Your Investing Style
In investing, there are two main approaches: a diversified strategy based on value investing that leverages the law of large numbers to gain a small edge over time, or a concentrated approach where one is highly selective, patient, and waits for opportunities within their circle of competence. It is crucial to find your own investing style instead of trying to emulate famous investors like Buffett or Lynch, as sticking to what you truly understand and being patient in your selections can improve your success rate. A middle-of-the-road strategy is likely to be less effective, especially when factoring in fees.