The Science of Hitting is a book written by Ted Williams, a baseball legend with the highest batting average in history. His approach to hitting later became a core investment philosophy for Warren Buffett.
I first learned about this philosophy through the documentary Becoming Warren Buffett. The idea is simple:
Ted Williams divided the strike zone into different areas, each with its own probability of making solid contact. His job was not to swing at every pitch, but to patiently wait for the ball to enter the zone where he had the highest chance of hitting it perfectly.
Buffett applies the same logic to investing.
In other words, investing is not about swinging at every opportunity. It’s about waiting for the right pitch — and then swinging with full conviction when the opportunity falls squarely within the zone you understand best.
I believe this philosophy still guides Buffett today. Berkshire Hathaway has now gone five consecutive quarters without share buybacks and is sitting on a record $381.7 billion in cash.