Warren Buffet's Punchcard - Investing Advice - ICO
"I could improve your ultimate financial welfare by giving you a ticket with only twenty slots in it so that you had twenty punches - representing all the investments that you got to make in a lifetime. And once you'd punched through the card, you couldn't make any more investments at all. Under those rules, you'd really think carefully about what you did, and you'd be forced to load up on what you'd really thought about. So you'd do so much better."
~ Warren Buffet
With only 20 Chances, we would be far more picky with what we invested in. We would make sure our due diligence was sound and far more indepth than usual. The same goes for ICO's, dont just read the whitepaper and analyze the team. Dig deeper. Check out any history you can find on the teams their past social media, business history, ex-business partners.
Why is all this needed? Far too often we are looking for the quick buck and so we become eager to get in on the ground floor of alot of different projects, we throw our money around like scattering seed. Buffet Champions the rich soil approach instead. Find that rich soil, planting a substantial amount in it and then protecting and nurturing that plant.
Its been used by others as well Lou Simpson head of GEICO equity has used this strategy over the decades to crush the market.
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