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Warren Buffett and Charles Munger advice for small investors?
Warren Buffett: 'Investing Advice For You--And My Wife' (And Other Quotes Of The Week): What I advise here is essentially identical to certain instructions   I’ve laid out in my will. One bequest provides that cash will be   delivered to a trustee for my wife’s benefit…My advice to the trustee   could not be more simple: Put 10% of the cash in short-term government   bonds and 90% in a very low-cost S&P 500 index fund. (I suggest   Vanguard’s.) I believe the trust’s long-term results from this policy   will be superior to those attained by most investors… Similarly from Will Warren Buffett's investment advice work for you?: Specifically, Buffett wants the trustee of his estate to put 10   percent of his wife's cash inheritance in short-term government bonds   and 90 percent in a low-cost S&P index fund - and he tips his hat   specifically to Bogle's Vanguard in doing so. Says Buffett: "I believe   the trust's long-term results from this policy will be superior to   those attained by most investors - whether pension funds, institutions   or individuals."