It is recomforting to see how applying Buffett-like strategies can have excellent results on a small portfolio. Allan Mecham exemplifies it. He dropped out of college because he was too busy running his own investment firm and reading a lot of books about investment, college was boring in comparison, “I was 19, I was staying up till 3:30 a.m. devouring this stuff”. He does not spend much time crunching numbers or building sophisticated spreadsheets, he prefers to devote his time to learn about the business, it’s products, competitors etc… He concentrates on just around 10 stocks and as Buffett, spends his time reading and has no idea about where the market will go. He is happy with just finding 2 investment ideas per year, it’s enough to have excellent returns. With those simple strategies he managed to have a 400% cumulative return in a few years and positive returns even in 2008. It was a pleasure to learn about him, it reinforces my investment philosophy :). Here is an interesting article that gives more information about him.