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“What we see right now is a transition period from the enormous surge in economically sensitive things to investors going back to what they should care about, which is how long is a franchise going to last, how well is the company going to do for the next 3 to 5 years,” Bill Smead told CNBC.
There is a big difference between betting on something and investing in meritorious companies with long holding periods. Although we are no longer shareholders of Berkshire Hathaway, Warren Buffett shared some wisdom with...
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