In his latest shareholder letter, Buffett again has some valuable thoughts to offer on investing in general. Here's one I strongly believe in, and hope to be able to apply every time I look at my investments:'The riskiness of an investment is not measured by beta (a Wall Street term encompassing volatility and often used in measuring risk) but rather by the probability – the reasoned probability – of that investment causing its owner a loss of purchasing-power over hiscontemplated holding period. Assets can fluctuate greatly in price and not be risky as long as they are reasonably certain to deliver increased purchasing power over their holding period. And as we will see, a non-fluctuating asset can be laden with risk.'http://www.berkshirehathaway.com/letters/2011ltr.pdf--------------------Global Gains Home Fool
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