The vast majority of wealth creation comes from a reasonably sized cohort of successful companies. The trick is to identify these wonderful businesses.
We think the very term ‘value investing’ is redundant. What is ‘investing’ if it is not the act of seeking value at least sufficient to justify the amount paid?
He will risk half his fortune in the stock market with less reflection than he devoted to the selection of a medium-price automobile
Today’s FAAMGNs, that is today’s ‘vital few’, will not be the ‘vital few’ 20 years from now