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Investing in Small Businesses
In the letter you share permanent equities returns publicly for the first time and people can go read that. I guess my question is this you say in the letter that you're sharing it because you want to be an encouragement to others to take the plunge into buying small businesses. Why frame it that way? Because it's true. We have not talked about our returns publicly because it feels a little weird, real little sheepish about it.