We’ve written in the past about our preference for management teams that think and act long-term. We prefer business managers who are not afraid to make strategic, capital allocation, and hiring decisions that will impact their businesses five, ten, or twenty years into the future even if they are detrimental to short-term profitability. That sounds pretty good but how does one become long-term-oriented?
Read MoreTrips to Berkshire Hathaway’s annual meeting in Omaha are an opporunity to meet other investors and to think about my own investment process. The 2023 meeting played the role well. Below are a few thoughts from this year’s trip.
Read MoreInvestors sometimes ask, ‘This stock has gone down—should you be selling it?’ The short answer is: it depends. We should remember that a stock represents partial ownership in a real company and, as such, should reflect future business fundamentals. Similar to buying an investment property or a farm, any related income and the ultimate sale price generated by that investment should be reflected in the purchase price.
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