Subject: Re: Fortune Greg Abel profile
Keep in mind the buy and hold forever was never meant to be taken literally. Petro China, Disney, and McDonald's have proven that in the past. The Buy and hold theory was really meant for 2 reasons. The first was that Berkshire's "IDEAL" purchase would be to buy and hold. This doesn't mean that they will always hold an equity forever. The philosophy is that they will buy and hold until the story changes (New management, Stock gets overpriced, political ) The 2nd was when a family would sell their business to Berkshire, Berkshire wouldn't buy the company and turn around and gut the company and sell it. They would keep the management and staff in place , Another example or the family or person sold it to Berkshire, the owner could run it still just like they always did but now they don't have the financial burden of said ownership( Mrs. B Nebraska furniture mart).