Sequoia Fund Annual Shareholder Meeting [Favorite Stocks]

Sequoia Fund Inc. also known as Ruane, Cunniff & Goldfarb, got a recommendation from Warren Buffett when it opened decades ago. The value mutual fund has crushed the S&P500 since its inception. Some of the famous value investors leading the firm include; Richard T. Cunniff , Robert D. Goldfarb , and David Poppe.

Greg Alexander also commented during the meeting. Greg keeps a low profile, but Warren Buffett has called him one of best three investors alive. The fund had a meeting for its shareholders and just released some commentary, which we sum up below. This is part I of the 20 pages of...