In my portfolio I think I have done a good job of acquiring...

In my portfolio I think I have done a good job of acquiring several cash generative businesses which I can hold for many years without too much worrying.

I do buy lesser quality businesses, and subsequently sell them when my thesis either plays out and valuations are reached or I accept being wrong.

But the question I have relates to the earlier mentioned higher quality businesses. The ones I don't want to sell simply because I have a nice profit on them. The ones I want to keep paying me dividends for the next 5,10,15 years etc.

With the departure of two 'C' level executives from two of my partly owned businesses this week (BRG and NVT), I have come to realize that there is a clear gap in my investing quiver. I don't have solid plans around management. I find myself lacking in conviction on whether it is something to simply note and wait for any potential changes/problems to show up in the results of the business over subsequent periods... or whether it is something that warrants more caution and should be researched much further.

I guess this aspect comes with experience, but I really must admit that I find my ability to qualify management personal is rather lacking and thus this week has left me with a bit of thinking to do. I also think I'll seek to close the gap in my skills by finding more readings on the topic.