[kbenson]

> long term, value investors - Buffett etc.

Isn't Buffett's (Berkshire Hathaway's) strategy to actually take over companies where they see a way to cut expenses, change direction, synergize with other companies, etc and markets to make them more profitable?

If so (and I admit to having mostly a vague understanding of the specifics of Berkshire Hathaway's strategy), and if that's indicative of that group, then it's interesting that those groups making money aren't really making "bets" as much as they're actively working to make their investments pay out.

[TheAlchemist]

Absolutely not !

Buffett buys business - usually family run, and … does absolutely nothing - he let them run as they did before. He only provides a financial power of Berkshire if needed and wanted.

But thanks to his reputation and operational mode, the hood businesses select him when they sell. It’s a kind of virtuous circle by now.