Warren Buffett is widely regarded as the world's most successful investor. His wisdom and down-to-earth investment proverbs are well known and followed by many. As one of the world's richest men, he didn't discover an oil field, develop an internet phenomenon or inherit wealth. He built his fortune solely through astute investing.
Buffett's investors and followers -- and in fact, much of the industry -- anticipate his Berkshire-Hathaway annual reports each year. In the 1977 report, he described the central principles of his investment strategy:
"We select our marketable equity securities in much the same way we would evaluate a business for acquisition in its entirety.
We want the business to be one (a) that we can understand; (b) with favorable long-term prospects;
(c) operated by honest and competent people; and (d) available at a very attractive price."
At Aspen Grove Asset Management, we strive to build long-term market success through short-term challenges by applying these principles to our daily work.
Buffett is the classic "Value" investor, and we follow many of his practices: Determining Fair Value, Understanding Your Circle of Competence, Sustainable Competitive Advantages, Sound Management With Integrity, The Avalanche Theory, Concentrating on Your Best Ideas, and Beware of Geeks Bearing Formulas.
Perhaps the last point is the most prescient in these modern times, when commoditized products and computer algorithms are driving much of today's investments.
We prefer to do it the old fashioned way, taking a historical view of market trends and adhering to strategies that have proven successful across decades of time, both lean and rich.
Finally, we believe it is critically important to communicate with our clients, by phone, email and in person, and regularly through our newsletter and blog.
Knowledge is power, and we're working as a team. Your personal success is what drives our success as a firm.
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The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete. It is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Dave Crouch and not necessarily of Raymond James. Raymond James is not affiliated with and does not endorse the opinions or services of Warren Buffett or Charlie Munger. This is not a solicitation to buy or sell Berkshire Hathaway stock or any other security. Investing involves risk, and you may incur a profit or loss regardless of strategy selected. Past performance may not be indicative of future results.