Is management rational?
Our favorite holding period is forever.
There is no staff. I make all the investment decisions and I do all my own analysis.
When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
Stop trying to predict the direction of the stock market, the economy or elections.
Observing that the market was FREQUENTLY efficient, EMT Adherents went on to conclude incorrectly that it was ALWAYS efficient. The difference between these propositions is night and day.