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Most hedge funds own 50 stocks. I own 10. If you really know your businesses, you don't need 50.
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Diversification is a hedge against ignorance. If you've done the work, concentrate.
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I apprenticed under Robertson, Halvorsen, and Coleman. Then I took what I learned and simplified it.
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The best businesses compound. The worst thing you can do is sell them to buy something mediocre.
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We don't have a public website. We don't give interviews. The returns are the only marketing we need.