Bull Sessions (4/5/2023)

Think electric slide ... traveled much, lately? Due to the vagaries of travel, we'll still be "on the road again" Tuesday, so we'll shift this week's Bull Session to Wednesday. Thoughts of curing cancer dance in our head for an Immunogen update ... and we'll serve some hors d'oeuvres for the Tillinghast/Annie Duke discussion next week.

In this April 5, 2023 Bull Sessions episode, Mark Robertson, Ken Kavula, and Matt Spielman discussed investment philosophy and methodology with a focus on simplification and long-term investing principles. The hosts highlighted the importance of reducing information clutter to focus on key investment metrics, drawing heavily from Joel Tillinghast's investment philosophy that true investing requires an indefinite time horizon rather than speculation based on short-term expectations. They emphasized the modern investment club movement's core principle of buying better companies at better prices and holding them long-term, noting that the current market provides opportunities despite recent volatility, with return forecasts hovering around 13%. The discussion reinforced lessons from investment pioneers like George Nicholson and the value of patience during market downturns, using Cy Lynch's Five Below selection during the 2020 pandemic as an example of disciplined, long-term investing despite temporary challenges.