The fundamental premise of our discipline is that over the long term, if you own very high-quality growth companies, you will eventually get rewarded. But patience is sometimes required. |
There's not one energy or utility stock that meets our standards of continuous long-term business performance. |
To me, short-sellers are no good for long-term investors. They can move prices of a stock in a way that has nothing to do with fundamental intrinsic value. |
True investing is making a commitment to own a company, to participate in its business over the long term and not betting on short-term movements in its stock price. To change our core discipline would dilute our efforts and all that we believe in. |