“A lot of similarities between Sears and Berkshire Hathaway.” The journey is similar between Edward Lampert and Warren Buffett.
How about last year, would you do anything different if you knew what would happen: yes I would slow down selling healthcare companies, and bought a lot slower. Given the business trends for financials are turning positive, this is the kind of portfolio I would take forward for the next few years. These companies are dead center of my circle of confidence. I have seen this before.
Investment thesis with AIG? Government ownership should not be a concern to long term investors. We bought more at cheaper prices. The bottom today, the company has a tangible book value of $45, going to $55. Fixable problems are covered up.