On Bad Academics & A Good Academic Argument for Concentration
I can’t vouch for much of academic finance. When it comes to this field, academics tell us all about beta, risk adjusted this and Sharpe weighted that. Though the reality of the situation is that finance and economics are not easily definable subjects with physics-like rules, academics try to prove otherwise, [...]
Invest like Bill Gates Gives
I came across a terrific article today detailing Bill Gates’ step down from MIcrosoft. It seems that Gates is entering philanthropy with the same zeal as he once had for personal computing. He and his wife, Melinda, are targeting issues such as world health and education with decabillions in firepower.
The article today from Fortune speaks [...]
Dissecting Western Sizzlin’ Corporation
You’ve got Berkshire; the king, the original, the Mecca. Investing in Berkshire Hathaway over the last 40 years has been like injecting rocket fuel into your portfolio, generating 20%+ returns since 1965 and, in the process, minting millionaires and loyal followers. However, nowadays Berkshire is getting so large that, by the laws of statistics, its [...]
LG focuses on ROIC
I put up a new Reflection this evening on the use of ROIC metrics to improve and value an organization. Go over to Reflections on Value Investing and enjoy.
Here’s an excerpt:
Warren Buffett has made it clear that Return on Capital is one of the most useful metrics in evaluating the strength of a given [...]
Buffett Opens Europe in Frankfurt, Switzerland
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 [...]
Buffett Reflects on Great Business: Rising Prices Equal Rising Profits.
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 [...]
What do Buffett, Pabrai, and Jim Rogers Have in Common? They Look For the Obvious
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 [...]
