The Importance of Selling Your Interest in Wonderful Businesses

I think it's usually a bad mistake to sell your interest in wonderful businesses. We try not to talk very much about the businesses except maybe to use them as an illustration in a teaching mode or something. If we're buying something that no one knows that we've been in that stock at all, we might be somewhat quiet about the fact. But we don't want to talk down something in order to buy it. I always, Jerry Newman as I understand it, didn't like Ben Graham giving all these courses explaining what Newman and Graham were doing. He made just slightly less money by being very accurate and what he taught was so be it. Warren has assimilated a bit of that ethos