Monish Pabrai: The investment process is like rolling a snowball down a long slope. Plan B is to ensure you have a long enough slope (time) and wet snow (high-quality assets); while Plan A is to occasionally place a few accelerators (unusual opportunities) on the slope. You don't need to operate frequently, just make sure the snowball doesn't roll out of your "circle of competence" fence, and never fall off the slope due to borrowing (leverage). In the end, time will do all the work for you.
Original article: toutiao.com/article/1853445837684736/
Statement: This article represents the personal views of the author.