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Investing in a Global Fund
sleep went through a similar journey as Buffett transitioning from the focus on cheap businesses or the deep-value cigar but type plays. In his very first letter in 2001, he stated, quote, "...when we evaluate potential investments, we are looking for businesses trading at around half of their real business value" This falls well in line with Buffett's new line of thinking. But interestingly, when looking at his early letters, he was diversified across a number of different countries and industries.