Friday, May 10, 2019

Lost in Abstraction


When children think milk comes from the shop rather than the farm, perhaps we have taken abstraction a little too far. The same is true of investments. However you wave your wand, there is a “look through”. Numbers are meaningless in and of themselves, unless they represent something. Fundamental Investing is the attempt to break through the noise and see what is actually happening. I like to think of it as getting my money a job. Listed Equity provides the opportunity to buy a slice of a real business. To become a part owner. I aim to get my money 20-25 jobs. In the same way as a person would do it. Find companies doing something well where you can buy in at an attractive price. Then give the money space and time to get the job done.



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