London stock exchange listed Rightmove RMV.L is another exceptionally good looking business if you look at ROE, profit margins and market share. Absolutely does not require capital to grow.

92% share of U.K. property listing. Big network effects. Estate agents hate it and see it as price gouging but have to use it, as it's the portal used by consumers. If selling a property at hundreds of thousands you don't pick the second best portal.

They are buying back shares and paying dividends and may be a bit of a cash cow rather than a fast grower. But they have pricing power and new products* that can drive growth.

*landlord tools functionality (leases, deposits etc)

I have a small opening position.

Perhaps fairly valued currently but could get cheaper if housing in the U.K. has a hard landing. Which could happen given U.K. post Brexit headwinds and the fact a big percentage of mortgages are variable rate or short term fixes about to reprice from e.g. 1.5% to 6%.

At 20 times earnings this can get cheaper. Could be one to pick up if that happens and hold for 20 years. Munger sit on your ass type investing.

Fx an important factor of you don't live in the U.K. as I do. Hard to say which currencies are worse in the long term.

Sustainability. Has been around for 20 years. Maybe not as safe as a Berkshire Hathaway or Apple. I suppose one of the big tech firm could develop a better system and push them out. Not sure. Hasn't happened yet.

### if you have any thoughts on Rightmove please share. ###

I'm 90% Berkshire and only have other investments for sport really. On balance I would have done better has I been 100% Berkshire. I do enjoy watching and following other good businesses. If I don't have some skin in the game I have no interest. Whether that is financially wise I don't know.