The red line on the flag in our logo mimics the performance of Warren Buffett’s investment in the Washington Post from 1973-1975. It is a reminder to us and our clients that patience is key when it comes to investing.

In the 1985 Berkshire Hathaway Annual Report Warren Buffett wrote about his initial investment in the Washington Post (WPC):

“We bought all of our WPC holdings in mid-1973. Most security analysts, media brokers, and media executives would have estimated WPC’s intrinsic business value at $400 to $500 million just as we did. And its $100 million stock market valuation was published daily for all to see. Our advantage, rather, was attitude.”

The world’s smartest investor bought shares in WPC in 1973, but had to wait until mid-1975 to breakeven. Even though Buffett’s initial $10.6 million investment in WPC went nowhere for two years, his patience paid off in March 2014 when he sold his position for $1.23 billion.