Monday, March 13, 2017

Invitation to the 2017 Yellow BRKers Party at the Berkshire Annual Meeting

You are invited to an event I plan every year during the Berkshire Hathaway Annual Meeting weekend.

The Yellow BRKers will be held Friday, May 5th, 2017 at the DoubleTree Hotel in Omaha, starting at 4:00 pm and you can linger until 7:00 pm.


Yellow BRKers 2017 details:

The 2017 event will be held at the same time and location as in prior years.


Friday May 5th from 4PM to 7PM


DoubleTree by Hilton Omaha Downtown
1616 Dodge Street
Omaha, NE 68102



To read the story behind the Yellow BRKers party and to register in advance: www.yellowbrkers.com

I look forward to seeing many of you again this year! 

Tuesday, March 7, 2017

Compilation of value links from around the web: March Edition

Below is a compilation of the most interesting reading I've come across in the past few months:

Warren Buffett: 

Warren Buffett interview in Fortune: Fortune
Tuck MBA students meet with Buffett: Tuck 
Wanted: Help handing out Warren Buffett’s fortune: Boston GlobeWarren Buffett Just Quietly Bought Up Another German Company: Fortune
Warren Buffett: Says US will do fine because we have the secret sauce: CNBC
‘Becoming Warren Buffett’ Goes Beyond a $74 Billion Fortune: NY Times
Buffett has bought $12 billion in stock since election: Bloomberg 
AIG to pay Berkshire $9.8 billion in commercial risk transfer: Bloomberg
Berkshire's Decker says Buffett can take his time with cash pile: Bloomberg
Why Berkshire is betting on airlines: Bloomberg 
Berkshire Hathaway portfolio changes in Q4: David Kass blog 
Becoming Warren Buffet, The man not the investor: New Yorker Three Ways Warren Buffett Is Not A Typical Billionaire: Forbes
Becoming Warren Buffett on HBO: Youtube
The Profitable Hobby of Warren Buffett: Future Asia
Buffett on CNBC February 27th: CNBC


Mohnish Pabrai:

The Dhandho Investor with Mohnish Pabrai: The Investors Podcast
Mohnish Pabrai on Donald Trump: Moneycontrol
Mohnish Pabrai Lecture at Boston College (Carroll School of Mgmt) - Nov 3, 2016: Youtube
Mohnish Pabrai's Approach To Beating The Market: Forbes 
Mohnish Pabrai lecture to the University of Puerto Rico MBA class on mental models: Chai with Pabrai 
The Dhandho Investor with Mohnish Pabrai: The Investors Podcast
Move Over Small Dogs Of The Dow, Here Come The Uber Cannibals: Forbes

Charlie Munger:

Charlie Munger's old Wesco Financial letters: Remembering the Obvious and My Investing Notebook
Charlie Munger Daily Journal Meeting replay: CNBC 
Charlie Munger gave Wells Fargo a vote of confidence: CNBC 
Video of the Daily Journal annual meeting: Youtube
Full transcript of the Daily Journal meeting: Latticework Investing 
Full transcript of the Daily Journal meeting: Dropbox
The Mind Of Munger: Berkshire's Vice Chairman Speaks On Wells Fargo, Trump And More: Bezinga 
Second handout from the Daily Journal meeting: Farnam Street Blog 
Handout from the Daily Journal meeting: Farnam Street Blog 
Charlie Munger on Getting Rich, Wisdom, Focus, Fake Knowledge and More: Farnam Street Blog
Charlie Munger answering questions after the Daily Journal meeting: Youtube 

Amazon/ retail:

Sears: Why the last big store must transform itself or die: Crains Chicago 1988
Amazon's next frontier is to conquer auto parts: NY Post
Amazon is eating the world: A Wealth of Common Sense
Importance of Knowing Your Investment Boundaries (Sears Mini-Case Study): Base Hit Investing

Bill Gates: 

Lunch with the FT: Bill Gates: Medium 
Bill Gates on Charlie Rose: Charlie Rose
Bill Gates and Warren Buffett at Columbia University - 27th Jan 2017: Value Investors World 

Seth Klarman:

Seth Klarman Weighs In on Trump: NY Times
Seth Klarman annual letter and comments on Trump: Business Insider 
World Energy Hits a Turning Point: Solar That's Cheaper Than Wind: Bloomberg
Steve Eisman thoughts on financials under Trump: CNBC
Bill and Melinda Gates foundation 2017 letter: Gates Notes

Investor letters: 

Greenlight Capital Q4 Letter: Scribd 
Howard Marks memo: Expert Opinion: Oaktree 
GMO Q4 2016 Letter: GMO 
Letters from top hedge fund managers: Reddit 
Baupost 2016 Letter: Link 

Other: 

Guy Spier on Getrevue: Getrevue
Best books of 2016: Farnam Street
Sohn Conference Notes: Marketfolly
Howard Marks and Rajath Shourie: CAIA Australia: Youtube
Solar could beat coal to become the cheapest power on earth: Bloomberg
When do you average down?: Bronte Capital
Are you a giver or a taker?: Tedtalk 
Three minutes with Hans Rosling will change your mind about the world: Nature
The fourth industrial revolution: a primer on Artificial Intelligence (AI): Medium
China has built the world’s largest bullet-train network: Economist
2016 was the hottest year on record: Slate 
Inside a Miracle: The 1980 U.S. Hockey Team: Farnam Street Blog
Ed Thorp on NPR: Planet Money 
Kyle Bass: Short China, Long Russia 'Good Place to Start': Bloomberg 
Renowned value investor Francis Chou is willing to wait on a bargain: Canadian Business
How to Review a Proxy Statement: Rational Walk 
Steve Eisman: “They mistook leverage for genius”: Youtube
Oaktree's Howard Marks Is Cautious, But Still Investing: Youtube
Graham and Doddsville Winter Newsletter: Columbia 
Episode #39: Ed Thorp, “If You Bet Too Much, You’ll Almost Certainly Be Ruined”: Mebfaber
Elon Musk Is Really Boring: Bloomberg
China's artificial intelligence boom: The Atlantic 
Walter J Schloss - Ben Graham Centre Value Investing 2008: Youtube 
How to build wealth by copying other investors: Pabrai
Billionaire James Simons: Conquering Wall Street with Mathematics: Youtube

Saturday, December 17, 2016

Compilation of value links from around the web: December Edition

Below is a compilation of the most interesting reading I've come across in the past few months:

Warren Buffett and Berkshire Hathaway

A dozen things Warren Buffett and Charlie Munger learned from See's Candies: 25IQ 
Warren Buffett's early investments: Latticework 
GEICO: The “Growth Company” that made the “Value Investing” careers of both Benjamin Graham and Warren Buffett: Wedgewood Partners 
Warren Buffett turns out to be more prescient about stocks than politics: Fortune 
Bill Gates on Warren, Bridge, Business Analysis and Tennis: Hurricane Capital
Yahoo Finance to Live Stream Buffett, Pickens, Soros at the 2016 Concordia Summit: Yahoo Finance
Graham and Doddsville Fall 2016 Issue: Columbia Business School
The story of the self destruction of Deutsche Bank: Spiegel 
Jeff Bezos interview with Charlie Rose: Valueinvestingworld
Jeff Bezos shares his management style and philosophy: Youtube
What Does Nevada’s $35 Billion Fund Manager Do All Day? Nothing: WSJ
Warren Buffett said this Jamie Dimon interview was off the charts: Yahoo Finance
Berkshire Hathaway BNSF railroad purchase shines bright in hindsight: Bloomberg 
Warren Buffett's Berkshire makes surprise U.S. airline bet: Reuters 
Buffett's three categories of return on capital: Base Hit Investing 
How to invest like Warren Buffett hero Phil Carret: Telegraph 
Ted Weschler likes Apple's subscription element: Valuewalk 
JP Morgan Chase names Todd Combs to board of directors: Bloomberg 
University of Maryland meeting with Warren Buffett: David Kass 
Playbook interview with Warren Buffett: Politico
What Warren Buffett likes about cash: Barrons
WSJ article on Buffett from 1977: WSJ
Alice Shroeder's 1999 sell side report on Berkshire Hathaway: Dropbox 
Big Problems Big Thinkers Episode 3: The Values Crisis: Bloomberg
One on One with Warren Buffett after the election: Youtube
BRK Shareholders Panel (Part 1): "Why did you buy Berkshire Hathaway stock?": Youtube
Berkshire Hathaway Symposium Panel 2: Youtube
Lawrence Cunningham: Keynote Address at the Berkshire Hathaway 50th Anniversary Symposium: Youtube
Ted Weschler makes his mark: Institutional Investor
Warren Buffett and Ajit Jain launching Berkshire Insurance: Youtube 

Guy Spier and Mohnish Pabrai

Interview with Guy Spier Part 1Part 2
Charlie Munger told Mohnish Pabrai an investor only needs to do three things: Acquire's Multiple 
Mohnish Pabrai's new blog: Know72 http://www.know72.com/ 
Mohnish Pabrai Lecture at Peking University: Youtube
Mohnish Pabrai's hedge fund interview guide: Sumzero
Why Mohnish Pabrai likes GM, Fiat, and Southwest: Barrons 

Bill Gates

Bill Gates book recommendation - The Gene: Gates Notes 
Bill Gates: A Perfume that Smells Like Poop?: Gates Notes
Why I love this cutting edge school design: Gates Notes 
Bill Gates on clean energy, Trump, and stocks: CNBC
Bill Gates addressing India's top policymakers: Youtube
Bill Gates favorite books of 2016: Gatesnotes 

Great Investors: 

David Einhorn's Q3 letter: Valuewalk 
James Chanos and Kyle Bass speak with Bethany McLean at Vanity Fair's New Establishment Summit on the global economy and stock markets: Vanity Fair
Oaktree's Howard Marks on his investment process: Bloomberg 
The Legacy of Benjamin Graham: Youtube
Baupost Group's Seth Klarman "It's a great time to be a value investor": 2009 Outstanding Investor Digest
Seth Klarman at the Ivey Business School in 2009: Youtube
Capitalize for Kids Conference notes: Marketfolly
Five lessons from Peter Lynch: Latticework

Banks: 

John Stumpf on Mad Money: Youtube 
Jamie Dimon interview: CNBC
How Wells Fargo dressed up earnings: Barrons
Brian Moynihan on Charlie Rose: Charlie Rose

Others: 

Jim Chanos on the Trump election and stocks: Bloomberg
My good friend Shaurya Gupta's essay on value investing: Genzvalueinvestor
Don't confused cheap with value: Broyhill Asset Management 
Harvard's endowment called lazy, fat and stupid: Bloomberg 
The President in conversation with MIT's ITO and WIRED's Scott Dadich: WIRED 
Elon Musk: Making Humans a Multiplanetary Species: Youtube
How to Raise a Genius: Lessons from a 45-Year Study of Super Smart Children: Scientific American
The activist playbook is nearly 90 years old — and the first chapter was written by Warren Buffett's mentor: Business Insider
500 years of bubbles panics and manias: Valuewalk