Case Studies

Buffett’s Underrated Investment Attribute

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A few weeks ago, Sears finally filed for bankruptcy, and I decided to read through some of my notes I’ve compiled over the years on that company. During this review, I came across a couple old posts that I wrote on the topic of circle of competence: Sears and 7-Foot Hurdles Knowing Your Investment Boundaries As I recently mentioned, I think one of Warren Buffett’s most underrated skills is his ability to recognize when a situation is getting outside of […]

Case Studies

Sears and Seven-Foot Hurdles

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A few weeks back I came across an article that someone had posted on Sears. It is a fascinating read for a few different reasons. One, I think Sears is an excellent case study of the retail industry and the difficulties of investing and allocating capital in that type of business, and two, the article was written in the summer of 1988. This post is not a prediction of the demise of Sears, or an indictment against those who find value […]