You don’t need a lot in your lifetime. You only need a few good stocks in your lifetime. I mean how many times do you need a stock to go up ten-fold to make a lot of money? Not a lot.
I think the secret is if you have a lot of stocks,
some will do mediocre,
some will do okay, and
if one of two of ’em go up big time,
you produce a fabulous result.
And I think that’s the promise to some people.
Some stocks go up 20-30 percent and they get rid of it and they hold onto the dogs. And it’s sort of like watering the weeds and cutting out the flowers. You want to let the winners run. …