You don't have to be right all the times

Recently I had been listening to some of warren buffett speeches on youtube to see if I could gain some wisdom from his wise words.

There was one speech where he mentioned that investors do not need to be right about all the companies. He just need to be right about SOME.

And he asked the audience to imagine that they could only invest 20 companies in their whole life, what would it be.

I pondered over this and reflected on my strategies.

I only invest 10k a year. Assuming I do this for the next 30 years, i would have invested in 30 companies or less in my entire life. This synch with Warren Buffett.

There is no need to know everything about all the listed companies. One should just focus on a industry and learn as much as possible about the business.