Track record: 23% compounded annual growth for 47 years.
"Although he deviated somewhat from insurance companies over his lifetime 11/12 most successful investments were still in that industry. These included AIG, the four Japanese companies above, Berkshire Hathaway, AON, Torchmark, Chubb, Capital Holdings, and Progressive. The odd man out was Fannie Mae. He had some other minor successes but the bulk of his portfolio was due to these 12. If anything can be learned from his investing it’s that holding a few big winners for a long time can go a long way."
http://www.fwallstreet.com/article/1583-shelby-davis-a-spectacular-unknown-value-investor#more-1583
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