Taking Back the Wheel
The Battle of Stocks vs. ETFs.
When we think about the rationale for developing a platform for conviction-building in investments, it is important to understand the motivating factors driving why one might invest in individual stocks, or at least a mix of stocks in a larger fund of equities, funds, and maybe even bonds.
Some of the highest-performing (long-term) fund managers of all time include Warren Buffett of Berkshire Hathaway, Chuck Akre of Akre Capital Management, and Li Lu of Himalaya Capital, and they all have something in common. Each own fundamentally sound businesses that comprise carefully curated portfolios, not ETFs. What does this tell us? (Spoiler: It's not just about wanting to flex your stock picks at family dinner).
To answer, let's examine the inverse question: what does an ETF offer?