He uses value investing. He really has a lot of very smart people working for him. They buy into something they know they can run better, and then exert their influence. That's what it really comes down to.
And of course, that's already priced into his stock.
but for this to be true, at what point did this happen?
for it to be priced into the stock already, the stock from that point on should provide a return equal to the rest of the market, right? if the expertise is already priced in.
that argument could have been made 10 years ago though, right?
but every year, on average, it continues to outperform. he had a little scare during the text boom though haha.