The Western Union Company (WU): Judge the Method, not the Outcome

Reflecting on my initial reason for buying the stock, I think the purchase was a mistake. The focus of my investing strategy is on buying businesses that I feel comfortable holding a lifetime. Instead of analyzing that aspect of The Western Union Company (NYSE:WU) back in January, I was simply fixed on my belief that the stock was undervalued. With this pick, I strayed from my investing strategy. Though the outcome was great, I’m not proud of the underlying method I used to make my investment decision.

The ultra long-term approach
I subscribe to the belief that the best way to invest over a lifetime is to follow Warren Buffett’s advice from his 1989 letter to shareholders: “Time is the friend of the wonderful business, the enemy of the mediocre.”

Though The Western Union Company (NYSE:WU) still seems undervalued, it’s not a business I can see myself holding in 10 years. For that reason, I’m out.

The article Judge the Method, not the Outcome originally appeared on Fool.com.

Fool contributor Daniel Sparks has no position in any stocks mentioned. The Motley Fool recommends Western Union.

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