Buffett has also been consistently voicing a similar thesis. He says that they look for CEOs/founders who build and manage their businesses because they love what they do, not because they love money.
By the way, I stumbled upon some funds that tried to use "founder-led" as the main criteria for selecting stocks, but I have not seen any particularly successful ones. Could this be due to a relatively minor impact of this factor alone compared to other factors?
Yeah I don’t use the “founder led” are the deciding variable. I still require knowledge of the business but it’s definitely a perk with a clearly motivated founder imo.
"Because they love what they do"
Based on my observations in the workforce, I'd like to phrase it as (combining it with your other points):
"Because they have the courage to do what's right for the company, not what's optimal for their career prospects."
(And that's, of course, because they love what they do more than they are concerned about their career prospects.)
Buffett has also been consistently voicing a similar thesis. He says that they look for CEOs/founders who build and manage their businesses because they love what they do, not because they love money.
By the way, I stumbled upon some funds that tried to use "founder-led" as the main criteria for selecting stocks, but I have not seen any particularly successful ones. Could this be due to a relatively minor impact of this factor alone compared to other factors?
Yeah I don’t use the “founder led” are the deciding variable. I still require knowledge of the business but it’s definitely a perk with a clearly motivated founder imo.