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fat pitch twenty punching hole style a la warren buffett, what is that?
Let’s break it down:
This is a baseball metaphor.
“The trick in investing is just to sit there and watch pitch after pitch go by and wait for the one in your sweet spot. If people are yelling, ‘Swing, you bum!’ ignore them.” – Warren Buffett
So: Be patient. Don’t swing at everything. Wait for a no-brainer.
This is another famous Buffett concept.
This is a thought experiment — not literal.
It’s meant to force discipline and selectivity. If you could only make 20 investments in your life, you'd be very careful and focused. You wouldn’t throw money at every stock tip or trend.
“I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches — representing all the investments that you got to make in a lifetime. And once you’d punched through the card, you couldn’t make any more investments at all. Under those rules, you’d really think carefully about what you did…” – Buffett
Would you like examples of Buffett’s “fat pitch” investments (like Coca-Cola or Apple)?
ChatGPT:
The phrase you're referring to — "fat pitch," "twenty punching hole style," à la Warren Buffett — combines a few key metaphors Buffett and his business partner Charlie Munger have used over the years to describe their investment philosophy.Let’s break it down:
“Fat Pitch”
This is a baseball metaphor.- In baseball, a fat pitch is one that’s easy to hit — right over the plate, slow, and in your sweet spot.
- Buffett uses it to mean:
Wait for the perfect investment opportunity — one that’s easy to understand, clearly undervalued, and has great long-term prospects.
Then swing hard (invest heavily).

So: Be patient. Don’t swing at everything. Wait for a no-brainer.
“Twenty Punching Hole Style” (More commonly: “20-slot punch card”)
This is another famous Buffett concept.- Imagine you get a punch card with only 20 holes in your entire lifetime.
- Each time you make an investment, one hole is punched.
- After 20 investments, you’re done.

It’s meant to force discipline and selectivity. If you could only make 20 investments in your life, you'd be very careful and focused. You wouldn’t throw money at every stock tip or trend.

Putting it together:
This philosophy is the opposite of:“Fat pitch, twenty punching hole style à la Warren Buffett” means:
Adopt a long-term, highly selective investment strategy, waiting patiently for only the best, most obvious opportunities — and when they come, invest with conviction, as if you only get a few chances in your life.
- High-frequency trading
- Chasing trends
- Constant portfolio churn
- Patience
- Discipline
- Deep understanding
- Concentrated bets
Would you like examples of Buffett’s “fat pitch” investments (like Coca-Cola or Apple)?