These kind of discussions always remind me of the Coffee Can Portfolio stories.
I've said it before, I'm not one to agonize over valuation because I don't have the skills or the time to value a company and there are plenty of other far cleverer people than I who generously share their expertise on valuation but being patient and having a long term view are things I can do. To Feroldi's point, investing in the story and being patient is more my style.
Being ignorant of company financials is not my worst investing attribute, there are others but that's a different discussion!
Thanks @Slymeat, I must admit while I was watching that video I was wondering about XRO, PME & WTC and how I wish I had a $1 for every time I heard someone say they were all too expensive over the past 5 -7 years.
Now I don't know if any of them will ever become a monster stock and I certainly don't take anything for granted but if you truely are a long term investor you have to think they are off to a good start.
Disc: Held in RL, XRO for +7 years, PME for +6 years and WTC for +5 years.
I sometimes wonder how they will be travelling in another 10 years, I hope to find out!
Here's an interesting video I found on the MicroCapClub website by Brian Feroldi at their recent Leadership Summit.
https://microcapclub.com/2021/10/good-reasons-to-ignore-valuation-by-brian-feroldi/