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Hello,

As I think about updating the FAQ etc as well as review the early era of Greg M. -- I think of boring as something different than the original intent and likely more in the direction as what Dale W. likely was getting at.

I'm not a big Berkshire Hathaway quote machine but ..... from the 1990 letter to shareholder's:

Lethargy bordering on sloth remains the cornerstone of our investment style: This year we neither bought nor sold a share of five of our six major holdings.

This doesn't mean a lot of research is done in the interim -- just we don't have to take action on everything. We have models, we have a shelf of ideas.

This goes back to the idea of a punch card w/ 20 slots for decisions. This goes back to waiting for excellent opportunities. So patience is important with this strategy and its again more akin to running a business than passive index investing.

So yes -- I personally believe sitting on my hands doing nothing is pretty boring and something that is different than what is often expressed by many investors.

To recap: Boring to me reflects an investment philosophy and not a type of company.



chessburger
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