No matter which style of investing you generally practice, thinking long-term is important, but just how long of a timeframe should you think about when considering any particular investment? Seth Klarman protégé David Abrams of Abrams Capital addressed this issue recently during a talk at the Project Punch Card Conference.
Q3 hedge fund letters, conference, scoops etc
Long-term consists of “a lot of short-terms”
He was asked about the prospect of investing in a stock for multiple decades. He explained why in today's market, that mindset is just not realistic.
"Just think back 20 years ago to 1998, the world was even just — at least two decades, not even three or four," he said. "What businesses haven’t been...
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