Yes — I firmly believe in long-term investing. So far, I’ve only used a few punches — for companies like Apple, Google, and Amazon. I hold them because they share the traits I look for as a value investor: durable competitive advantages, strong and consistent cash-flow generation, dominant positions in their markets, and management teams that allocate capital effectively. Even when the market swings, their long-term fundamentals continue to strengthen.
# Buffett Farewell Letter: Is the Last Lesson Resonating With You?

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