The power of compounding
“Leaving the question of price aside, 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.” – Warren Buffett, 1992 Shareholder Letter If someone offers you a choice between either paying 50 cents on the dollar for the assets of a low […]
What are the elements of accurate forecasting?
Forecasting is a critical ingredient to any investment. Readers will know that our job is to “buy a dollar for fifty cents”. Now, observing the market price of fifty cents is easy – we need only look at the share price of the particular stock we are considering to buy. The hard part is knowing […]
To go back in time…
I was recently asked when the best time to start a new fund might have been. Not that most fund managers really have control over this, however, if I could go back in time, around 1988 would be a good place to start. Immediately you might think my answer has something to do with the […]