In this interview, Eddy Elfenbein discusses his buy list strategy, which involves selecting 25 equally weighted stocks annually with only five changes each year, emphasizing high-quality, durable companies with strong market positions. He reflects on the divergence in the stock market, where a small group of large companies dominate, and shares insights on top performers like FICO and Miller Industries, as well as mistakes like Celanese and Polaris. Elfenbein also introduces new additions to the buy list, such as Adobe and Allison Transmission, and addresses the challenges and benefits of equal weighting and maintaining a long-term investment horizon. The discussion covers macro-economic factors, diversification, and the structure of his ETF, CWS, highlighting its unique fulcrum fee that aligns his interests with those of the investors. The host also shares one of his recent stock purchases, Lumine, and discusses the company's business model and investment case.
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