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...Amazon.

(Sequoia is one of the longest running - if not the longest running - mutual funds in the US. "The history of the Sequoia Fund traces its roots to the late Bill Ruane's lifelong friendship with Warren Buffett. Bill Ruane first met Buffett at a value investing seminar taught by Benjamin Graham at Columbia University in 1950. When Buffett closed his investment partnership in 1969, he advised his clients to invest with Ruane in the Sequoia Fund. In 1970, William J. Ruane and Richard T. Cunniff founded the Sequoia Fund to take on Buffett's former investors" http://ift.tt/2cCTkmu)

While Sequoia had tremendous distress after its huge stake in Valeant, the Berkshire-esque fund otherwise has had an excellent track record over the long haul.

The fact that they bought Amazon - and bought fairly significantly - is certainly a bit of a surprise.

Sequoia also sold its stake in WMT completely.



Submitted February 15, 2017 at 09:23AM by dvdmovie1 http://ift.tt/2ljgKEG

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