I’ve met many fund managers during my business trip to raise my fund. To be honest, I’m facing many difficulties that we can’t avoid when starting anything new. However, by the end of this trip, I don’t feel lonely. On the contrary, I’m confident after meeting such respectful peers.
One of my new friends, from India, said after our first meeting, “I’ve never seen another person walk around with printed letters from Buffett. You definitely left a big impression on me. It’s like we found our tribe.” I felt the same but couldn’t express it better than he did! While he focuses on listed stocks in India, I mainly focus on Japanese corporations. Still, we were able to share a philosophical perspective on what a good investment might be. Of course, it all comes down to “compound and long.”
In other meetings, a very nice gentleman from Australia and I discussed how our capital markets are becoming increasingly cross-categorical, breaking down borders for all types of investors. Yet, marketing unconventional ideas remains a challenge. Despite these difficulties, we concluded that staying true to our beliefs is essential. What matters most is identifying the best businesses, buying them at a fair value, and holding them for the long term. This discussion also encouraged me to embrace being unique.
By the way, I had this printed paper with me throughout. It reminds me that rigid categorizations like “growth” or “value” don’t produce returns, but an honest understanding of the underlying business and its intrinsic value does. GEICO, after all, has been a valuable growth stock over the long term.
