Why Warren Buffett Takes His Investing Tips From a Baseball Legend Keep your eyes open for that one 'fat pitch.'

By Phil Town

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

What do the stock market and baseball have in common?

Entrepreneur Network partner Phil Town speaks about a famous quote from Ted Williams that Warren Buffett loves to quote, which involves not "swinging" at good "pitches."

Williams always swung at the "fat pitches," which to him meant being choosy about which pitches to go for. Town distills this information as meaning even though a company is technically a good company, it may not be the right company for you.

Town notes that to successfully go after a "fat pitch," you must be willing to stand still with cash in your pocket. Simultaneously you should also be researching the companies you are intersted in. Research is integral to gaining a better understanding and thus be more educated to invest. And this sort of study is further aided by discipline and consistency.

Click play to hear more about baseball and investing.

Related: The One Thing Millennials Can Do to Live Life More Comfortably in the Future

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Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

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More from Phil Town

How to Find a Stock On Sale That's Right for You

3 Bad Investing Habits You Should Drop Before It's Too Late

Nervous About Investing? Think About Your Money This Way.

How to React When a Recession Is Approaching

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