Portfolio Management

The Partnership's management believes that diversification is second fiddle for both knowledge and price consciousness.   The Partnership is highly concentrated and typically will consist of no more than ten (10) main ideas with no more than 20-25 investments.

"You do better to make a few large bets and sit back and wait   …   there are huge mathematical advantages to doing nothing", Charles Munger.

No attempt is made to mirror a benchmark, either by composition or weighting as we emphasize no benchmark 'hugging.'   However, benchmarks do provide a function for comparative purposes, in the sense, of keeping score.   For comparative purposes the Partnership targets the major US Indice of the Standard & Poors 500.   The Standard & Poor’s 500 Index represents an unmanaged, broad-based basket of stocks.   It is typically used as a proxy for overall market performance and the S&P 500 Total Return assumes that dividends are reinvested.   You can not invest directly in the S&P 500.


Please review our About Us section to learn more.