About the circle of competence, the ability to say no, Sears, Retail and Sum of Parts in Retail …
Everyone talks about circles of competence, but one of the greatest skills Buffett and Munger have is their ability to say “no” to ideas that are too difficult. Their ability to successfully stay within their boundaries (most of the time) comes from their unique combination of incredible brain power and unusual humility. Most people who are smart and ultra-driven (character traits of most successful people) have a hard time saying “no” to challenging new ideas.
Some very unusual holdings – the success speaks for itself
Price have not moved much since then = maybe still nice?
I have actualized the Quality Sources section of Valuetradeblog. There are now more European “Gurus” like:
- Evermore Global (Fund Commentary)
- Squad European Convictions (Fondsinfo)
- Ennismore European Smaller Companies Fund – (link)