Highlights from Markel’s 2016 Annual Letter

Intelligent investors should be skeptical when reading about companies that could be the “next Berkshire Hathaway” or executives who resemble a “younger Warren Buffett”.  The reality is that very few companies have even a remote chance of replicating Berkshire’s 20.8

CarMax: A Better Way to Buy and Sell Used Cars?

CarMax was founded in 1993 in Richmond, Virginia under the ownership of Circuit City Stores.  In the early 1990s, Circuit City was looking for growth opportunities in different markets outside consumer electronics.  The automotive sector was identified due to its large

Getting In on the 50th Floor

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

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