Buffett devotee and value investor Guy Spier walks us through his investing style. Some of his key points:
- He avoids shorting.
- Uses concentration with about 20 positions.
- Back prior to the financial crisis he kept 70% of the portfolio in just five positions but now feels that was too concentrated.
- He thinks value investing has gotten much more difficult because of the amount of competition amongst investors and the fact that data is easily available now.