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Posts Tagged ‘Warren Buffett’

The dumbest net net stock Warren Buffett ever bought

Posted in About, Greenbackd, Net Current Asset Value, Net Net Stocks, Net Quick Stocks, Net Quick Value, Warren Buffett, tagged , on October 19, 2010 | 1 Comment »

This is an oldie, but a goodie (via CNN). The travails of buying net nets, as told by the master’s apprentice: Warren Buffett says Berkshire Hathaway is the “dumbest” stock he ever bought. He calls his 1964 decision to buy the textile company a $200 billion dollar blunder, sparked by a spiteful urge to retaliate [...]

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Warren Buffett on the economy: “No double dip”

Posted in About, Austrian Economics, Value Investment, Warren Buffett, tagged on September 14, 2010 | 2 Comments »

Warren Buffett has long eschewed any ability to foresee the path of the markets or the economy, but according to this BusinessWeek article, he’s resolute that the economy will not slide back into recession: Warren Buffett ruled out a second recession in the U.S. and said businesses owned by his Berkshire Hathaway Inc. are growing. [...]

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Fortune on David Sokol

Posted in About, Warren Buffett, tagged , , , on August 3, 2010 | 1 Comment »

Fortune magazine has a great profile on David Sokol, Warren Buffett’s Mr. Fix-It: Buffett first met Sokol in 1999 when Berkshire was buying MidAmerican, the Iowa utility. With longtime Buffett friend Walter Scott, Sokol had bought a small, $28-million-a-year geothermal business in 1991 and built it into that utility powerhouse. MidAmerican, headquartered in Des Moines, [...]

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WSJ profile of Li Lu

Posted in About, Stocks, Warren Buffett, tagged , , , , on August 2, 2010 | 2 Comments »

The WSJ has a more full profile of Li Lu (subscription required), the Chinese-born hedge-fund manager in line to become a successor to Warren Buffett at Berkshire Hathaway Inc.: Mr. Li, 44 years old, has emerged as a leading candidate to run a chunk of Berkshire’s $100 billion portfolio, stemming from a close friendship with [...]

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The long and short of Berkshire Hathaway Inc. (NYSE:BRK.A BRK.B)

Posted in Stocks, Warren Buffett, tagged , , on July 12, 2010 | 4 Comments »

Berkshire Hathaway Inc. (NYSE:BRK.A BRK.B) has been in the news recently as Goldman Sachs initiated coverage on the stock with a “Buy” rating and then Stifel Nicolaus & Co. followed with a “Sell.” It’s not often that the street gets so polarized about a stock, tending to the more tepid “Hold,” so I thought I’d [...]

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The Forbes’ Buffett Cannon

Posted in About, Value Investment, Warren Buffett, tagged on June 22, 2010 | 3 Comments »

Forbes has released Forbes on Buffett, a compendium of articles on Warren Buffett, beginning with a November 1969 article on his early investment partnership: …Buffett is what is usually called a Wall Streeter, a Money Man. For the last 12 years he has been running one of the most spectacular investment portfolios in the country. [...]

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Kelly theory of portfolio construction: Do not bet thy whole wad

Posted in About, Stocks, Value Investment, tagged , on April 28, 2010 | 2 Comments »

Portfolio construction and position sizing are key elements in investing. For every investor, there exists a tension between the desire to maximize the rate of growth of the portfolio while simultaneously minimizing the chance of blowing up. The Kelly Criterion is the method to determine the optimal portion of the portfolio to be invested in any given [...]

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Guest post update: Valuation for Berkshire Hathaway Inc. (NYSE:BRK.A, BRK.B) short case

Posted in Stocks, Value Investment, Warren Buffett, tagged , , , on March 17, 2010 | 15 Comments »

Yesterday I ran a guest post on the short case for Berkshire Hathaway Inc. (NYSE:BRK.A, BRK.B) by S. Raj Rajagopal, an MBA student at Johnson Graduate School of Management at Cornell University. The post generated several requests for the valuation supporting Raj’s short thesis, which Raj has provided and I’ve reproduced below. Here is the valuation [...]

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Doctorin’ the Tractatus

Posted in About, Stocks, Value Investment, Warren Buffett, tagged , on March 8, 2010 | 2 Comments »

When I started out investing I summarized Warren Buffett’s letters to shareholders into a document I jokingly called the “Tractatus Logico-Valere.” The title, Latin errors aside, was intended to be an homage to Ludwig Wittgenstein’s Tractatus Logico-Philosophicus (which, according to Wikipedia, may in turn have been an homage to the Tractatus Theologico-Politicus by Baruch Spinoza). The [...]

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Counterintuition

Posted in About, Stocks, Value Investment, tagged , , on November 13, 2009 | 7 Comments »

The superb Abnormal Returns has a post “Investing by the seat of their pants,” which, among other things, discusses William Bernstein’s conjecture that “only a tiny fraction, 1 in 1000, investors have the skills to become truly competent investors.”  In the preface of his new book, Bernstein suggests four abilities successful investors must enjoy (via [...]

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