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Value Investing Resources
- Berkshire Hathaway
- Buffett Partnership Letters 1957 – 1970
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- Graham and Doddsville
- Graham-Newman Corporation Letters 1946 – 1958
- Howard Marks's Memos
- Jason Zweig's Website
- Michael Mauboussin's "On Strategy"
- PBS's Your Mind and Your Money
- Robert Shiller's Website at Yale
- Santangel's Review
- Seth Klarman's Investor Letters from 1995 through 4/30/2000
- The Ben Graham Centre for Value Investing
- The Best of Value Investing (Youtube Video Series)
- The Brandes Institute
- Tweedy Browne: What has worked in Investing?
- Value Investigator
- Value investing with Walter Schloss
- Whitney Tilson's Value Investing Website
Value Investing Blogs
Other Investing / Economics / Finance Blogs
- Aswath Damodaran's Blog
- Balance of Economics Blog
- Becker – Posner Blog
- Cafe Hayek
- Econlog: Library of Economics and Liberty
- Enterprising Investor: The CFA Institute's Blog
- Greg Mankiw's Blog
- House of Debt: Amir Sufi and Atif Mian's Blog
- John Cochrane's Blog
- Matt Ridley's Rational Optimist Blog
- Ray Kurzweil's Website
- Richard Stott's Blog
- Street of Walls
- Symmetry Capital Blog
- The Adam Smith Institute
- Vox
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MOS Cloud
Behavioral Finance Benjamin Graham CAPE CFA CFA Institute Charlie Munger Chartered Financial Analyst China Closet Indexers Competition and Strategy Conventional Professional Investors David Einhorn Debt Crisis Entrepreneurial Spirit Euro Crisis European Debt Crisis Eurozone Fama and French Financial Media Free Markets Friederich Hayek Housing Bust Howard Marks Invisible Hand James Montier Jason Zweig Joel Greenblatt Long-Short Margin of Safety Matt Ridley Michael Lewis Michael Mauboussin NFLX Quantitative Easing Risk Robert Shiller Seth Klarman Short Sales The Rational Optimist Tobin's Q Ratio Value Ideas Value Investing Video Warren Buffett Whitney Tilson
Tag Archives: Long-Short
Howard Marks: The Top-Ten Qualities that Make Warren Buffett Different from Most Investors
The following are bullet points reproduced (and numbered by order of appearance) from Howard Marks’s Forward to the third edition of The Warren Buffett Way, by Robert G. Hagstrom. Marks writes a couple of paragraphs to elaborate on each bullet point, … Continue reading
Posted in Uncategorized
Tagged Behavioral Finance, Benjamin Graham, CAPE, CFA, Charlie Munger, Chartered Financial Analyst, Closet Indexers, Competition and Strategy, Conventional Professional Investors, Howard Marks, Long-Short, Margin of Safety, Risk, Robert Shiller, Seth Klarman, Short Sales, Value Ideas, Value Investing, Warren Buffett
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LinkedIn “Meets” Earnings Expectations…Much Joy in Socialville
Full disclosure: I have a modest short position in LNKD. LinkedIn (LNKD) announced that they met Thomson Reuters analysts’ expectations for earnings at $0.16 per share this quarter. In addition, second quarter revenue at $228.2 million, beat analysts’ expectations of $215.7 … Continue reading
Posted in Uncategorized
Tagged Glamour Companies, LinkedIn, LNKD, Long-Short, Risk, Short Sales
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RIP, Barton Biggs
Barton Biggs passed away on Saturday after a short illness. Every aspiring hedge fund manager should read his book Hedgehogging, which was published in 2006. You can find it in the book store above. Having just skimmed my marked up copy … Continue reading
Posted in Uncategorized
Tagged Barton Biggs, Conventional Professional Investors, Hedge Funds, Keynes, Long-Short, RIP, Short Sales
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So, You Think You Can Be a Great Short Seller
I am about to cover the final leg of my NFLX short, which I had in place for over one year. Are you one of the many who saw this coming? Did you expect a 75% drop in price since … Continue reading
Just What is Seth Klarman up to? It May not be What Optimists Believe
Apparently, Seth Klarman is in the market for capital. This is always news because Klarman has a reputation for shunning capital from new investors and frequently returning excess capital to existing investors. However, the author of the attached story has … Continue reading
Posted in Uncategorized
Tagged Behavioral Finance, Benjamin Graham, CAPE, CFA Institute, China, Conventional Professional Investors, Financial Media, Free Markets, Housing Bust, Invisible Hand, Jason Zweig, Long-Short, Margin of Safety, Quantitative Easing, Risk, Seth Klarman, Short Sales, Tobin's Q Ratio, Value Ideas, Value Investing
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The Investing World’s Reaction to Buffett’s Hiring of Richard “Ted” Weschler
I am surprised at the reaction among investors and the media over Buffett’s selection of Ted Weschler as one of his portfolio management successors, but I suppose I should be used to it by now. The general reaction has been: … Continue reading
Posted in Uncategorized
Tagged Behavioral Finance, Benjamin Graham, Charlie Munger, Closet Indexers, Competition and Strategy, Conventional Professional Investors, Financial Media, Jason Zweig, Long-Short, Margin of Safety, Peter Cundill, Short Sales, Ted Weschler, Value Ideas, Value Investing, Warren Buffett
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Prem Watsa, CFA
I used to own Fairfax Financial, which smartly shorted financial stocks and bonds–to the tune of several billion dollars–before they blew up. Here is an enjoyable interview of its CEO–Prem Watsa, CFA–who is a value investor who is sometimes referred … Continue reading
Whitney Tilson Had a Bad Month and is Having a Bad Year
I am somewhat surprised by this because I thought he was less than 50% net long. (Correction: Tilson made changes to the fund in August which resulted in the fund being 70% net long). Covering his NFLX short may have hurt … Continue reading
I am a Proud Member of the “I Don’t Know” School
I read the following in Howard Marks’s latest book (p. 138): “Since the investors of the ‘I Know’ school, described in chapter 14, feel it’s possible to know the future, they decide what it will look like, build portfolios designed … Continue reading
Prem Watsa’s Thoughts on Current Macro Conditions
Prem Watsa is Chairman of Fairfax Financial, a Canadian P&C firm in the mold of Berkshire Hathaway. Prem is sometimes called Canada’s Warren Buffett. We held a profitable position in Fairfax for a while, but no longer hold any interest … Continue reading