How Do You Deal With Volatility?

In some of the annual letters, he refers to the investable universe. And we have about 50 currently about 50 stocks in our investable universe over a number of sectors and geographies. We hold about 20 of them and the other 30 may move in into the portfolio at some point depending on do we know the business? Do we know theBusiness well enough? Are we sort of comfortable on all the important aspects of the business and the investment case? And of course, valuation matters, right? So you, you know, even if business quality is more important than valuation, I'd rather buy these great businesses,. say in March, April, 2020, or during the first half of this

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