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early outperformance
ajwells
05-07-2007, 10:56 PM | Post #2384491
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Look at how FAIRX achieved its outperformance in its early years which folks are now saying has been eroded... through holding ATT, BRKB, various insurers and a number of mid to large companies which were hiding in plain sight... they could have achieved those returns with the asset base they have now without any difficulty...
Their early significant outperformance was much more likely due to their circle of competence coinciding with the markets overlooking of that area... the fact that hasnt happened again to that extent has nothing to do with their asset base... its just that their circle of competence is more aligned with the market at the moment... but that will likely change... again, they are shooting for and I am happy with 15% a year average returns... if they can achieve that, and I dont see any evidence that they cant, then I continue to be a holder...
Ajw
Originally posted in thread: 15117
Topics
brkb
FAIRX
market
returns
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