I bought Investor before the turn of the millennium after reading an article about the company in a magazine, not an investment publication. According to it, Investor’s share is the Swedish royal family’s largest and long-term investment, and the stock has been the most profitable on the Stockholm Stock Exchange over the last hundred-year period. When I then looked into the stock’s valuation, I was surprised that the price was cheaper than the value of the shares Investor owned, even without the unlisted holdings. I immediately made a large 300 kSEK purchase and since then I have just followed the trend growth of the share price and dividends. There has been one split, and today the value of the position exceeds 300 kEUR.
Buy and hold from here on as well. The company’s discount relative to the value of its holdings has narrowed, but I would argue that the Wallenbergs’ management is not a cost but added value.