April 11, 2023

Nintendo: The Console Wars

The single greatest edge an investor can have is a long-term orientation.

In a world where performance comparisons are made not only annually and quarterly but even monthly and daily, it is more crucial than ever to take the long view. In order to avoid a mismatch between the time horizon of the investments and that of the investors, one's clients must share this orientation. Ours do. - Seth Klarman