North Media’s 80-year-old founder has outperformed with his buy-and-hold investments in IT, payments, and other growth industries
In July 2008, North Media received an unpleasant letter. That letter is one of the main reasons the listed media company owns a large equity portfolio. Its value made up 48% of the market cap by the end of Q2 2020. Another reason the portfolio is so large is the significant outperformance created by Richard Bunck. Bunck is the founder and majority owner of North Media, a company he started in 1965. He has more than 55 years of experience both in equity investments and in running a business. His investment philosophy has been shaped by the successes and mistakes he has made in both areas. As Warren Buffett puts it: “I am a better investor because I am a businessman, and a better businessman because I am an investor”. The investment strategy is simple, concentrated, and long-term focused. He trusts his common sense and tries to shield himself from all outside influence and advice. He focusses on industries that will see increasing demand in the next 5–10 years and tries to find the companies within these industries that will see increasing demand for their products as well. Bunck and his company were among the early movers in the IT …