$NVIDIA(NVDA.US)

The stock market is a device for transferring money from the impatient to the patient.

Today is the proof of that rule. The sharp move up is simply the transfer payment arriving. The people who got bored last week sold their shares to us. Now we are collecting the reward for their lack of discipline.

Munger taught us that waiting is the hardest work of all. Today we got paid for that work.

I am not celebrating a lucky bet. I am celebrating the discipline of doing nothing.