Second Quarter 2013 Update: Yielding to the Still Point

The Dance - ©ECAMIt was nearly three years ago that I wrote the Third Quarter 2010 letter The Joys of Compounding – Revisited. That letter set forth a journey where I have used a section of these quarterly letters as a medium to explain an aspect of our philosophy and process. Toward our goal of compounding, I have shared components such as how we qualify an investment under our six-sides of great framework, how we source and categorize an investment, and last quarter I shared with you how we search for harmony among the hexagonal counterparts of our investment process through M- Theory. I have shared the system we have created to measure, evaluate, and ultimately attempt to make repeatable, intelligent investment decisions. To date, I have explained the tangible form of our beliefs and behaviors under the construct of the three dimensions of space and one dimension of time… View PDF »