"Time is the friend of the wonderful business, the enemy of the mediocre...It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." - Warren Buffett
My investing philosophy is rooted in lessons learned over my professional career. Among the key tenets of my approach are to:
Maintain a patient, long-term mindset: The market has become increasingly short-term focused. As such, investors who are able to tune out market noise and focus on the underlying businesses they're buying will have an advantage that bears out over time.
Own companies with economic moats that are run by good stewards of capital: Paying good prices for businesses that possess durable competitive advantages provides a double margin-of-safety. This advantage is further augmented when such companies are managed by smart capital allocators.
Keep trading costs to a minimum: You can only compound what you keep. By making thoughtful and deliberate investment decisions, investors can reduce the impact that trading costs have on performance.
Avoid investing fads: Long-term investing success is as much about knowing what to avoid as what to buy. Keep your distance from popular "water-cooler" stocks and those getting a lot of media attention.
Pay attention to the dividends: A company that consistently increases its dividend payout along with the company's growth shows an interest in partnering with long-term shareholders.
Current personal equity holdings Admiral Group plc Berkshire Hathaway Brown-Forman Burberry plc Core Laboratories Costco Wholesale Culp Diageo plc Diamond Hill Investment Group Johnson & Johnson Markel Morningstar System1 Group plc Trupanion
Beneficiary interest Amazon.com Cracker Barrel Sherwin Williams