3M Company
MMM
position
long
Tweedy, Browne
Thesis
3M is a high-quality industrial company that Tweedy, Browne had not been able to buy for 20 years, indicating a strong belief in its long-term value and growth potential. They purchased shares during a market downturn, suggesting confidence in its recovery and performance.
Did it work?
worked
confidence: high
The long thesis on 3M has played out successfully, as evidenced by a substantial price increase of 298.3% over 214 months. The investment was made during a market downturn, aligning with the belief in the company's long-term value and growth potential, which has been validated by the significant return. This performance indicates that the thesis was correct in its assessment of 3M's recovery and overall strength as a high-quality industrial company.
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