Ruane, Cunniff & Goldfarb (Sequoia Fund) 2017 Investor Day Transcript

The Sequoia Fund (SEQUX) is one of the most storied and reputable stock picking mutual funds. The fund and its manager (Ruane, Cunniff & Goldfarb) had a sterling reputation until the recent Valeant Pharmaceuticals debacle.

You can find the full transcript of the 2017 investor day here:

Ruane, Cunniff & Goldfarb (Sequoia Fund) 2017 Investor Day Transcript

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The fund's current top holdings (BRKA, MA, GOOGL, TJX, XRAY, KMX, CSU, RRC/LN):

On the firm's strategy to seek high quality companies:

 

On portfolio holding O'Reilly and competition by Amazon in the auto parts market:

On portfolio holding Credit Acceptance Corp and the subprime auto loan market: