Alec Renehan

amount of choice and the amount of work that you need to do to start investing in individual companies, forget it.

You don't have to.

We've done more than five.

If you know any, let us know.

Just wait until we do the S&P 500 challenge next year.

So I think there's a few, I guess, staples that we have in every interview.

We love to talk about people in culture because we find that's one thing that is incredibly hard to get from any other information source.

You can kind of get a glossed over sense of it from an annual report, but really you've got to hear how these company leaders approach building a team and

building a culture and stuff like that.

So that's always an important one.

We love to hear them describe their company in their own words.

But for us, you know, the main thing is, you know, all of these businesses are just incredibly, you know, working incredibly hard, trying to hire the best people and trying to, you know, solve big problems, be it give us things we want or solve, you know, challenges that the world is facing.

And for me, I love to hear that story and to hear the story of like what they're trying to do and how they're trying to do it.

And, you know, there are so many people that will nitpick about certain companies at certain points in time.

But I think like as long-term investors, we have to understand what's the reason, what's the thesis that an investor would have to hold this company for in like a decades long time horizon.

And

I think really trying to get to the bottom of that and really trying to understand how the company creates value and how it thinks about creating more value into the future.

That's really, as investors, what it all comes down to.

It's funny how many people say that, like how many expert investors that we've spoken to that say that.

How many CEOs say that it's not about...