Reed

Embracing curiosity and leaning into the motto: 'I'm a better investor because I am a businessman, and a better businessman because I am an investor.' -WB

[Reed @reedwick]

@jasoncbuck This is really great - thank you for sharing...

[Reed @reedwick]

@MebFaber “I am a better investor because I am a businessman, and a better businessman because I am an investor.”
-WB

[Reed @reedwick]

What a great interview between @jasonzweigwsj and Peter Bernstein 20 yrs ago. Hat tip to @safalniveshak. A great reminder that in investing the right temperament and a healthy dose of intellectual curiosity & humility beats out intellectual horsepower. https://t.co/vLC2EWLF34

[Ian Cassel @iancassel]

In the 1990's Tom Kite played a round of golf with a couple collegiate golfers. After the round one of the collegiate golfers asked:

"We played as good as you did today. Why are you the all time leading money winner and we are the #3 and #4 golfers at the University of Texas?"

[Reed @reedwick]

@sidecarcap Durability is the key. Makes even mundane businesses very solid long term investments. Even without the extra layer of excellent management.

[Sidecar Investor @sidecarcap]

I intend to own every business forever.

This is not hyperbole.

Some will get taken out, I’ll make mistakes and some will be sold for more attractive opportunities.

But buying with the *intent* to hold forever focuses of mind on what is truly important.

[Sidecar Investor @sidecarcap]

Being counter-cyclical is more effective than being contrarian.

[Quartr @Quartr_App]

You don't have to chase the "next big thing" to achieve great returns.

Here's a thread introducing 15 boring companies with remarkable long-term track records 🧵

1. How about gas stations and convenience stores? $ATD.TO has returned ~28,000% since 1999:

[Reed @reedwick]

@Evanstbe Eureka

[Reed @reedwick]

@sidecarcap @WilliamGreen72 He's great.

[Reed @reedwick]

@shawngorham One of these on a nice F-150 would be pretty sweet. And you can drop the shell when you're not using it. https://t.co/bvbx1sa84j

[Reed @reedwick]

@moseskagan @mottsmith Time horizon. There's no one right answer, but you have a differentiated point of view here.

[Reed @reedwick]

💯 this. True even when the cash flow is embedded in the companies of the stocks you own. Not just real estate.

[The Real Estate God @TheRealEstateG6]

Too many people focus on networth goals, when their focus should be on their ability to generate cashflow

Having the skills to generate excess cashflow means your networth goals can be lower, which means you can “soft retire” earlier

Most people never figure this out

[Reed @reedwick]

@finnscave Right down the road for you ;) https://t.co/zmyOFJIGEb

[Reed @reedwick]

@finnscave Chiropractors

[Reed @reedwick]

Love this. "You don't have to make 100 correct judgements in this business, you just need to make a few." - I have nothing to add.

[Sidecar Investor @sidecarcap]

Buffett’s yard sticks for assessing management:

How well they run the business

How well they treat owners

https://t.co/vd0EjywP6z

[Reed @reedwick]

100% agree.

[Andrew Finn @finnscave]

One of the best parts of twitter is stuff like this. Just some dude explaining in great detail the economics of running a hay farm.

[Reed @reedwick]

@jd_foote @bentigg This is the correct answer 🤠

[Reed @reedwick]

@moseskagan @fortworthchris @ChrisBloomstran Me too

[Reed @reedwick]

@moseskagan Should be true for high quality stocks too. Easier said than done. Maybe private markets makes it easier.