Is This the Secret to Warren Buffett and Charlie Munger's Incredible Success?

You probably know that Warren Buffett is a great investor. But do you know how great? Consider this: Over the past 60 years, he has increased the value of his company Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) by 5,500,000% (nearly 20% annually). In the same period, the S&P 500 index of 500 of America's biggest companies gained about 39,000% (10.4% annually, on average).It's a pretty sure bet that neither you nor I will ever become that good at investing. But we can get better at it by heeding the advice of Buffett and other investing greats.Here's a look at one particular thing that both Warren Buffett and his late longtime business partner, Charlie Munger, have done throughout their lives and that they advise all investors to do. (You'd do well to learn more about Charlie Munger -- Warren Buffett has called him the "architect" of Berkshire Hathaway.)Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool