Fourth Quarter 2012 Update: Seek Knowledge of Causes

ECAM Seek Knowledge of CausesI have never written at length about our transformation category. Toward our mission of compounding capital it would be logical to assume that our compounder category sufficiently supplies the best opportunities for our overall investment objectives. We define compounders as businesses that have superior returns on tangible assets employed in the businesses, and we expect those returns to be sustained or improved over a five-year or longer time horizon… View PDF »