It is a rather odd beast.

I wouldn't say they are trying to be Mr Buffett.

Rather, I think of it more like a family office that happens to have listed shares in its portfolio. As portfolio managers, they are better than average; they seem to focus on firms with remarkable margins. They do tend to emphasize local businesses more than I would, but that is perhaps because that's what they know: they are owners of some companies, so they naturally get to know the companies and markets THEY know.

There is one strong resemblance to Berkshire, which is investing the cash flows thrown off by the existing investments into other earners, building a bigger pie over time.

A randomly selected poster about the firm, to get a start on what they're about. In two parts.
https://outsiderscorner.substack.com/p/investor-ab...
https://outsiderscorner.substack.com/p/investor-ab...
a follow up on 2024 results
https://outsiderscorner.substack.com/p/investor-ab...

I was thinking of buying some at recent lows but hadn't read enough yet to pull the trigger. Who knows, there may be lower prices coming in future. For almost everything, perhaps.

Jim

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