“The trick in investing is just to sit there and watch pitch after pitch go by and wait for the one right in your sweet spot. And if people are yelling, ‘Swing, you bum!,’ ignore them.” – Warren Buffett
We always try to write about – and invest in – only the most interesting things we find. The problem is we are going through a lot of companies that do not meet our hurdles. Thankfully, we enjoy this work. But my goodness, the hit rate of interesting-to-not is low. Real low. This article was prompted by the 100th pass of the weekend.
And so, today we want to highlight some of the companies we recently went through to share our pain of the investing process, and maybe give some of our readers insight into what we do, or maybe try not to do.
We will caveat this piece by stating a few things. First, we hold no positions in any of these companies. Secondly, we do not know any of these companies very well (we only learned about the existence of many of them this weekend). And third, they are all outside our circle of competence. We wish their investors well.