Can this company be fixed? That is the question we must wrestle with (nearly) every time we buy a new stock.

This past quarter, we demonstrated the resilience of our model. Our typical pattern of performance has long been to underperform somewhat in waxing markets and to outperform more meaningfully in waning ones.

Watch the panel discussion from the 2023 Marshfield Investor Conference.

One way to survive chaotic markets? Invest in companies that thrive on it.