In this episode, Barry & Ernest dive into key lessons from the past five years of investing and share our latest thoughts on the market. We challenge the idea that complexity leads to better results, and explore why “buy and hold” is oftenharder than it sounds. We also discuss how strong management teams pivot effectively and what that means for long-term success. Plus, we open the mailbag to answer your questions!
0:00 – Introduction
3:58 – Complexity does not lead to better results
10:23 – Our current thoughts on the market
13:18 – Lessons learned over the last five years
19:54 – “Buy and Hold” as a strategy is easier said thandone
28:05 – Management ability to pivot
30:10 – Mailbag 1: Portfolio construction
36:56 – Mailbag 2: Why Waste Connections over other wastemanagement companies?
41:42 – Mailbag 3: Would Couche-Tard have been punished the same way if it were listed on the NYSE?
44:40 – Mailbag 4: Review of your biggest mistakes
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