Concentration risk and the Magnificent Seven
The best business to own is one that over an extended period can employ large amounts of incremental capital at very high rates of return
FAAMGN
Tapping into the wealth created by stock market investing
The vast majority of wealth creation comes from a reasonably sized cohort of successful companies. The trick is to identify these wonderful businesses.
My thoughts on second edition of The Four Pillars of Investing by William Bernstein
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?
The market can be beaten
He will risk half his fortune in the stock market with less reflection than he devoted to the selection of a medium-price automobile
Do investors need to identify and invest in future FAAMGN stocks?
Today’s FAAMGNs, that is today’s ‘vital few’, will not be the ‘vital few’ 20 years from now
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