“I read Barron’s for 50 years. In 50 years I found one investment opportunity in Barron’s out of which I made about $80 million with almost no risk. I took the $80 million and gave it to Li Lu who turned it into $400 or $500 million. So I have made $400 or $500 million reading Barron’s for 50 years and following one idea. Now that doesn’t help you very much does it? I’m sorry but that’s the way it really happened. If you can’t do it… I didn’t have a lot of ideas. I didn’t find them that easily, but I did pounce on one.” -Charlie Munger
Charlie has also read Fortune for 60 years and has not made an investment from it so far.
Quote is from this 2-hour long interview available here: https://youtu.be/RpzrHPYWojY?t=37m5s