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The Story of the Japanese Investment
"We need big ideas in order to find things," he says. "I like looking at figures about companies and here were five very, very substantial companies,. Most of them, maybe all of them, we'd done business with them in a dozen different ways." The group was earning 14% on what the company would have had to pay to buy it for 1%. And that was going to cost us to have a 1%. So we just started buying them. I didn't even probably tell Greg until maybe six months after we'd gotten going. Then we hit 5% in all of them. We announced on my birthday and at 90, that we owned over 5%.