Punch Card Capital: A 27% Annualized ReturnRupert Hargreaves
This is the second part of a short series on an article published in Santangel's Review back in 2011. The article is a profile of Norbert Lou, the founder, and managing partner of Punch Card Capital LP., named after Warren Buffett's well-known punch card quote:
"I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches — representing all the investments that you got to make in a lifetime."
Norbert's portfolio rarely had more than six positions, a level of concentration which . . .
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