If there's one topic that's mentioned more than most in the world of value investing, it's the long-term outlook required. All of the great value investors have tried to emphasize that value investing is a marathon, not a sprint, and an outlook of several years should be taken for each investment. Warren Buffett is possibly the most famous and vocal long-term investor.
However, markets, in general, are becoming increasingly short-term, which is presenting several problems for all investors, not just those of the value persuasion. Focusing Capital on the Long Term (FCLT) is an initiative cofounded by McKinsey & Company and the...
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