This Is How Hard It Is To Justify Investing In The S&P 500

Core Insights - The investment philosophy emphasizes seeking obvious investment opportunities that stand out clearly [1] - The approach has shifted from deep-value investing to focusing on acquiring high-quality businesses for long-term holding [1] - The strategy involves concentrated positions, often initiating at 5-10% of the portfolio, with a willingness to let successful investments grow significantly [1] Investment Strategy - The investment style has evolved from a "cigar-butt" approach to a preference for wonderful businesses [1] - The philosophy advocates for holding onto investments without trimming, regardless of portfolio size [1] - The approach aligns with the idea of nurturing successful investments while avoiding the temptation to cut losses on underperforming ones [1]