Circle of Competence

You are browsing the archives of 2008 May.

On Monday, Buffett held court at a press conference in Frankfurt, Germany to begin his trip through Europe. He commented on buying great businesses, European acquisitions, and the real purpose of his trip. As always, he was in good humor and dropped many investing gems.

Watch the Video Here

On Tuesday, Buffett’s news conference moved [...]

I read an article called “Sears majesty to hedge-fund dust” at the behest of a reader on the gurufocus message boards, and I have to say it is one of the most uninformed and incomplete articles I’ve ever read. There are so many misguided and shallow statements that it’s hard to know where you’d [...]

src=”http://www.valueinvestingnews.com/sites/all/scripts/externalvote.js”type=”text/javascript”>
I read an article called “Sears majesty to hedge-fund dust” at the behest of a reader on the gurufocus message boards, and I have to say it is one of the most uninformed and incomplete articles I’ve ever read. There are so many misguided and shallow statements that it’s hard to know where you’d [...]

Since all of my readers know how successful my past forays into financial institutions have been, I’d like to introduce you to another today, a company called Primus Guaranty (PRS). Primus’ main line of business is selling credit default swaps (CDS) to institutions needing to hedge their corporate bond portfolios, and their market value [...]

Buffett has reflected many times on the workings of a great businesses. In looking at the transcripts of his speeches to students, this theme and many other recurred. I put my first post up at Reflections on Value Investing today with some Buffett quotes and two terrific transcripts of his talks to MBA [...]

It sounds crazy that Warren Buffett and Jim Rogers might have something in common besides intellect and wealth. Buffett has owned the Washington Post for 35 years, Coca-Cola for 18 years. Jim Rogers owns exotic commodities and currencies, usually leveraged up to the hilt, and was once partners with the most famous speculator in the [...]

I finished David Einhorn’s investing “novel” Fooling Some of the People All of the Time this afternoon, and I have nothing but praise. I mentioned here that I’d write up a quick review, so I’d like to do just that.
The Story
In the early chapters, Einhorn does a great job introducing us to himself and [...]