Mar
31
Munger kicked off the session with a speech titled “Why was Warren Buffett & Berkshire Hathaway so successful?” He listed three main factors: - Mental aptitude: “WB [Buffett] is one of the smartest people I know. WB has been extremely interested in investing since he was 10. There is no substitute for having a very intense interest in something you’re trying to succeed at; WB started very early. When you are in a field like investing, which requires long compounding periods, this is an important factor; WB is one of the best learning machines on Earth. Extremely high-IQ people don’t need to keep learning throughout life (they can coast), but people with less intelligence need to keep learning. WB had both — very high intelligence and continuous learning. WB’s skills have increased markedly since he turned 65! If he had stopped learning earlier in life, his record would be much less impressive.” - Focus: “The work at BRK [Berkshire Hathaway] was concentrated in one mind. Great committees are unsuccessful in most fields (such as investing and physics). WB maximizes objectivity. A lot of very bright people make continually bad decisions because they have bad character traits and, worse, they encourage them. Don’t be an extreme ideologue — whether right or left.” - Positive Reinforcement: “As WB succeeded more with his approach and as more people knew of him, this was a form of positive reinforcement to keep doing what he was doing, and do it better. Positive reinforcement is a very important force in life; give positive reinforcement to people you care about when they do good things.”
Sidekick has sage advice of his own ( Complete Article )
Mar
25
Sub-Prime Crisis Explained
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Well here is the best ,simplest and certainly most hilarious explanation of Sub-Prime financial crisis. Surely you will enjoy it.
Thanks to Guy Spier of aquamarinefund.net
Mar
22
Buffett and Gates on Success
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Warren Buffett, chairman of Berkshire Hathaway and Bill Gates, Microsoft founder and CEO, treated business students at the University of Washington to a rare public dialogue. The funny, philosophical and personal conversation between these two business leaders and unlikely friends focused on the things most important to them. Buffett and Gates share an extraordinary appreciation of the qualities that matter most, in work and in life.
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Mar
18
The Graham and Dodd Lecture Series
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Value Investing Seminar : August 4-5, 2005
http://gabelli.savvislive.com/ValueInvestingSeminar/
This video clip is 3 hours long and is conducted by Professor Bruce Greenwald from columbia University on behalf of Gabelli Asset Management. Fantastic Seminar! Enjoy!
PROFESSOR BRUCE GREENWALD
Professor Bruce C. N. Greenwald holds the Robert Heilbrunn Professorship of Finance and Asset Management at Columbia Business School and is the academic Director of the Heilbrunn Center for Graham & Dodd Investing. Described by the New York Times as “a guru to Wall Street’s gurus,” Greenwald is an authority on value investing with additional expertise in productivity and the economics of information. Read more
Mar
15
The Rediscovered Benjamin Graham
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Herein please find ten rare lectures featured in The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend, by Janet Lowe.
ABOUT THE LECTURES.
These lectures are from the series entitled Current Problems in Security Analysis that Mr. Graham presented at the New York Institute of Finance from September 1946 to February 1947. The book provides an abridged version of this content. The full text of the transcripts are contained within this website.
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Mar
5
A Conversation with Warren Buffett
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Recenty, Warren Buffett answered questions for almost 90 minutes during his appearance in Toronto. He fielded a wide range of questions today from an audience of several hundred investor relations and corporate executives at an event marking the opening of Business Wire’s expansion into Canada.
Business Wire Canada Opening Reception: A Conversation with Warren Buffett [85:44m]: Play Now | Play in PopupMar
4
Warren Buffett released his latest annual letter to his Berkshire shareholders . I haven’t read through the entire thing yet. I will post highlights once i go thru.
You can download and read the entire letter here:
Warren Buffett Letter to Shareholders