Visiting the annual general meeting of Berkshire Hathaway in 2018 was a huge inspiration for me, and I’ve continued to invest in only what I’ve found to be wonderful companies at fair prices in the portfolio since. I had done my reading before the meeting; I read every annual letter that Warren Buffett has written to the shareholders of Berkshire Hathaway. More than 50 letters that grew in size by the years were devoured more than once over a long time of joyful studying.
It has paid of to follow the ideas of Warren Buffett. See how the performance has been since I saw Warren and Charlie live in Omaha below. The returns have been pretty good and have even beaten the American stock market indices since.
In the previous post I shared the current top holding of The Philosophers’ Legacy Portfolio; Costco Wholesale Corporation. It has had a fenomenal return since 2018, but that upswing is not captured in the returns shown above, since it was bought as late as in 2020. If I had listened to Charlie Munger about his thoughts about Costco earlier, my portfolio would have done even better. But a 67% return in almost two years deserves a pat on the back. Even though the current price of Costco stock is pretty high in relative terms as P/E and P/B, I believe we will get a good contribution from the stock in many years to come.
More on Costco later…
