Warren Buffet and Charles Munger betted heavily when the odds were overwhelmingly in their favor. In 1963, Buffet invested 40% of his firm's money ($7Mn of $17.5mn total money) into American Express, which had seen it's stock price cut to half just before Buffet's large purchase. It went 6 folds in the next 5 years. (It would have been worth $5.3Bn today, if he had held on). Warren also invested $10.6Mn into Washington Post, which translated to $1.3Bn in 2007, a 124x bagger in 34 years.
Key Takeaway: Remember Margin of Safety, and wait for opportune times. Take Few bets, Big bets and infrequent bets.