“disagree with the notion that more information is always better.”
Allan Mecham
5 quotes1 research pieces1 downloadable PDFs
Quotes(5)
“Selling is difficult, and my track record suggests it’s usually a mistake”
“We favor infrequent action (and commentary), patiently waiting for exceptional opportunities”
“Our ideas and policies are all structured with one goal in mind: to cultivate a culture that encourages rational decision making that ultimately leads to solid risk-adjusted returns”
“The result is a concentrated portfolio that tends to be more volatile than the indices — a situation that’s not well tolerated by lay people and Wall Street alike.”
Research & Reading(1)
Mecham Letters
The Mecham Letters capture Allan Mecham’s disciplined approach to investing, emphasizing patience, deep fundamental research, and emotional control. Through his correspondence, Mecham highlights the importance of concentrating capital in a small number of well-understood opportunities while remaining willing to hold cash when attractive investments are scarce. The letters consistently stress that avoiding mistakes is more important than chasing frequent gains. A central theme is Mecham’s resistance to market noise and speculation. He cautions against forecasting macroeconomic trends and instead advocates focusing on individual businesses with strong balance sheets, capable management, and clear value propositions. The letters reflect a philosophy rooted in independence of thought, long-term orientation, and the belief that superior results come from discipline rather than activity.