Michael Sandler
Michael Sandler
adding cheaper companies fine kept people
One of the ironies of 1999 is there were fine companies doing better than people anticipated but no one cared. They kept getting cheaper and cheaper and we kept adding to our portfolio.
bad beginning cheap good news portfolio quite
Quite honestly, it's a good news, bad news situation. The bad news is our portfolio is not as cheap as it was at the beginning of the year.
bike bridges less wider
Boulder has a lot wider and smoother bike paths, and there are less bridges on the bike paths.
companies giving money people worth
People were giving money to companies who weren't worth anything. It was just absurd.
along answer budget functional helped juggle medication multiple
Medication helped in many ways. But it didn't answer the functional questions. How do I juggle multiple assignments? How do I budget my time? How do I get along with others? How do I get things in on time?
confident investing robust
We're confident value-style investing is robust and is going to be around.
chase focus good investing prior returns running somebody team understand
The most important thing is don't chase returns because somebody had good returns in the prior year. You want to focus on the team running a fund; the long-term returns; and understand the investing philosophy.
owning philip smart
Of course, we didn't look smart in 1999 owning Philip Morris.