Although we expect to hold investments for long periods of time, we reassess each company continually and would consider selling the investment for any of the following reasons:
If the share price increased to a level in excess of the company’s intrinsic value and all Margins of Safety disappear.
If the company experienced an adverse fundamental change.
If we determined that another company has better investment potential.
Low Turnover
Burgundy’s buy and hold approach typically results in low portfolio turnover. We believe high turnover of investments is counterproductive to achieving the best long-term results.
