Our lone portfolio addition, Amazon.com (NASDAQ:AMZN), requires little introduction. Amazon has built an unassailable global competitive advantage in its core retail business, and we believe it will continue to gain worldwide retail (not just e-commerce) market share for many years to come. In addition, Amazon Web Services has also built a significant share in the large and rapidly growing “infrastructure as a service” market. We foresee Amazon’s unique technical capabilities, global scale and culture of customer obsession will allow the company to grow its business value for many years.
From Wallace Weitz (Trades, Portfolio)'s Partner III Opportunity Fund fourth-quarter commentary.
