The process of compounding wealth is best characterized by an interesting paradox: What is very exciting to observe, in retrospect, over long periods of time can appear to be relatively dreary and dull while actually living through the process. The
In general, investors are best served by ignoring most headlines, tuning out the daily market chatter, and focusing on in-depth fundamental research into the factors that influence the long-term intrinsic value of a business. If that actually comes anywhere close
In the spring of 1954, Bill Child was a new graduate of the University of Utah preparing to start a career as a school teacher in a rural town thirty miles north of Salt Lake City. Within weeks, he was running a small appliance business founded by his father in law, R.C. Willey, who had fallen gravely ill and died a few months later. Starting with a small family business that had revenues of $250,000, Mr. Child built an enterprise with sales of $257 million prior to selling the company to Warren Buffett’s Berkshire Hathaway forty one years later. Read this article for more details.