We are in uncharted territory in investing, says Charlie Munger.
Munger is Warren Buffett’s right-hand man at Berkshire Hathaway (NYSE: BRK.A) and a key player behind the rise of the conglomerate that is worth over US$660 billion today.
Despite their stature and experience, the duo readily admitted last month that they do not have all the answers for what is going to happen next.
The thing is, nobody does.
Yet, with the proliferation of COVID-19 variants, we have to be ready to live with the presence of the virus for the foreseeable future.
Everlasting investment principles
We may not be able to predict the future, but there are still key characteristics that will serve us well when we invest.
Here are three of them:
Strong market position: Tough market conditions will affect all industry players in the same way.
As such, focusing on the market leaders with a dominant position is a good place to start.