If you have a harem of 40 women, you never get to know any of them very well.
I don't read economic forecasts. I don't read the funny papers.
The U.S. Treasury has got borrowing costs like nobody else has.
We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as "focused" investing.
It's better to build than to buy if you can find the right people.
Focus alone is not enough; putting in the time to commit is also crucial to achieve success.