[valuearb]

Warren would tell him to stay away from Samsung. Not that it’s particularly overpriced, just that the kids portfolio size opens up enormous markets where far higher return investments lurk.

When WEB started, he worked the pink sheets and small cais because he could, he was only managing a few million at the start.

He seldom went into mid or large CEOs because they tend to be much more efficiently priced. You can see the results of his narrowing pool of opportunities as his portfolio grew over the decades. He has learned more and gotten better over time, yet his 40% returns in the 50s and 60s melt into the 25% returns of the 70s/80s, and thence to 15% returns in the 2000s.

Work at it kid, turn over every rock and read a dozen financial reports a day, and don’t settle for less than 100% annualized while your portfolio is under $1M.

[junippor]

I seem to recall having read a very recent (couple years?) interview with him, where he was asked if value still worked nowadays. He said that if he only had 1 million to invest, he could still do 50% a year.