Our investments continue to be few in number and simple in concept: The truly big investment idea can usually be explained in a short paragraph. We like a business with enduring competitive advantages that is run by able and owner-oriented people. When these attributes exist, and when we can make purchases at sensible prices, it is hard to go wrong (a challenge we periodically manage to overcome).
Not uncommonly one hears some romantic young woman say, 'Oh, I would give anything to be a writer. ' But she would not; and 'anything' is not enough. One must give everything.