• Global
• Airbnb, DoorDash, Facebook, Initial Public Offering, IPO, Microsoft, Netflix, Snap, Snap, Snowflake, Tesla, Uber, Warren Buffett, Zoom
• December 14, 2020

The market operates in cycles. Things heat up; things cool off. When people tell you to “look through the cycle,” they are referring to the need to ignore the short-term fluctuations and invest in high-quality companies that will do well over an extended period. I often reference Microsoft as a powerful example of this. It is the only company that …