Charlie’s portfolio was concentrated in very few securities and therefore his record was much more volatile but it was based on the same discount-from-value approach. He was willing to accept greater peaks and valleys of performance, and he happens to be a fellow whose whole psyche goes toward concentration, with the results shown. – Warren Buffett discussing Charlie Munger’s investment process in Damn Right! by Janet Lowe Berkshire Hathaway’s (BRK/A, BRK/B) Warren Buffett and his late partner Charlie Munger are considered the greatest investment duo of all time. Munger’s investment strategy tended to be very concentrated, with the Daily Journal…

Last year’s U.S. Open Champion, Bryson Dechambeau, had many reasons to smile. In addition to lifting the trophy, he also took home $4.3 million. The U.S. Open continues to represent one of golf’s biggest prizes. While any golfer would give whatever it takes to take home this year’s trophy (first place prize again expected to be $4.3 million), there is an extra layer of incentive this year that makes it even more beneficial relative to future years: taxes. Like Dechambeau’s win last year in North Carolina, this year’s winner can also expect to face relatively low state income taxes levied…