Mastercard: Another Wonderful Business With A Price Tag To Match

Core Insights - The investment philosophy emphasizes seeking obvious investment opportunities that stand out significantly [1] - The approach has evolved from deep value investing to focusing on acquiring high-quality businesses for long-term holding [1] - The strategy involves concentrated positions, typically initiating at 5-10% of the portfolio [1] Investment Strategy - The investor initially favored a "cigar-butt" approach, which focuses on deep value, but has shifted towards a strategy inspired by Charlie Munger, prioritizing quality businesses [1] - The philosophy includes a commitment to never trimming positions, regardless of their growth within the portfolio [1] - The guiding principle is to "don't cut your flowers and water your weeds," indicating a focus on nurturing successful investments [1] Community Engagement - The investor expresses a willingness to learn from the community, acknowledging that they do not claim to be an expert [1] - There is an openness to education and feedback from other investors within the SeekingAlpha community [1]