Wednesday, April 27, 2016

Compilation of value links from around the web: April Edition

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

Warren Buffett and Berkshire Hathaway:

Charlie Munger on the cost of capital: Damm Right 
Daily Journal Annual Meeting Notes: ValueWalk
Ron Olson on Charlie Munger and Warren Buffett: Outlook Business
Warren Buffett arrives in Europe in search of quality companies: Larry Cunningham
Yahoo to livestream the Berkshire Hathaway Annual Meeting: CNBC
Highlights of Buffett's letter to shareholders: David Kass Blog
Warren Buffett says don't piggy back my trades: Marketwatch
Berkshire Hathaway Energy and its use of tax breaks: Bloomberg
Berkshire Hathaway is safe and cheap: Basehitinvesting
Larry Cunningham on BRK's Disintermediation: Buffett's New Managerial Model: Slidshare
Mistakes and Buffett's original Berkshire Purchase: Base Hit Investing
Larry Cunningham on Berkshire's Future: Value Walk
The Munger Operating System: Farnam Street Blog

Warren Buffett on CNBC Monday February 29th: 

Transcript of Buffett on CNBC: CNBC

Mohnish Pabrai:

Mohnish Pabrai on bubbles: Youtube
Dhandho Junoon ETF launches: Businesswire


Bill Gates: 

Bill Gates on books and blogging: NY Times
Bill Gates on BBC: BBC
Bill and Melinda Gates 2015 Letter: Gates Notes


Other reading

The ten commandments of superforcasters: Farnam Street Blog
Wilbur Ross on energy bonds: Value Walk
An interview with Bruce Flatt: Bloomberg
How Baupost did in 2015: Busines Insider
An interview with Petra Capital: Great Investors TV
GMO Q4 2015 Letter: GMO
An Interview of the MIT investment team: Fundooprofessor
Success secrets of the Kardashians: Private Investment Brief
How Macquarie sold a hollow shell company to investors: AFR
Wally Weitz reveals early Valeant red flag: Value Walk
A conversation with Nate Silver: Medium
An Interview with Jamie Dimon: Bloomberg
Ray Dalio on the Economy: Bloomberg
Jeff Ubben interview on CNBC: CNBC
Ackman's Valeant bet keeps getting worse: Bloomberg
The best predictor of election outcomes: Electionbettingodds
Michael Mauboussin on market inefficiencies: Latticework
Peter Thiel on China, Technology and Innovation: Bloomberg
A Roadmap of a world without cars: Medium

Sunday, February 28, 2016

Invitation to the 2016 Yellow BRKers Party at the Berkshire Annual Meeting

Dear readers,

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

The Yellow BRKers will be held Friday, April 29th, 2016 at the DoubleTree Hotel in Omaha, starting at 4:00 pm and you can linger until 7:00 pm. There will be a short program at approximately 5:30.


Yellow BRKers 2016 details:

The 2016 event will be held at the same time and location as in prior years.


Friday April 29th  from 4PM to 7PM


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



You can find more information and register in advance here: www.yellowbrkers.com

$10 will be collected at the door to defray the costs of putting on this event.

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

Alex Bossert

Tuesday, February 23, 2016

Compilation of Value Links From Around the Web: February Edition

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

Warren Buffett and Berkshire:

A Survey of Berkshire Hathaway Operating Managers: Stanford
How Warren Buffett Got Rich: Business Insider
Warren Buffett interviewed by Yahoo Finance – thoughts on education, deficits, China etc: Yahoo Finance
Warren Buffett takes 8% stake in Seritage: WSJ
Warren Buffett shares his widom with business school classes: IT Business
Warren Buffett’s grandson seeks his own route to social change: New York Times
Howard Buffett is getting his hands dirty: Bloomberg


Bill and Melinda Gates:

Bill Gates – The 25 best books I read in 2015: Gates Notes
How Melinda Gates became the most powerful advocate for women and girls: Forbes

Charlie Munger:

How did Charlie Munger deal with adversity: 25IQ
Charlie Munger on Valeant: WSJ

Other:

Thoughts from Seth Klarman in Baupost’s letter to investors: Yahoo Finance
Larry Page at the Fortune Global Forum: Fortune
Peter Thiel at the DealBook Conference: Youtube
Gary Cohn of Goldman Sachs at the Dealbook conference: Youtube
Sell side report on Enron just before bankruptcy in 2011 (strong buy): Enron
Wells Fargo and the incredible predictability of deposit growth: Base Hit Investing
The unbelievable power of Amazon’s cloud: The Atlantic
General Motors is here to Stay: Barrons
CFA Society of Switzerland – Guy Spier, Vitaliy Katsenelson: Youtube
Invest For Kids Chicago – John Burbank, David Samra, Sam Zell etc: Marketfolly
Guy Spier on how lunch with Warren Buffett changed his life: The Observer
David Einhorn on why widely followed stocks get mispriced: Basehitinvesting
GMO quarterly letter – “Just How Bad is it?”: GMO
The top ten interviews by the Manual of Ideas: Manual of Ideas
Ira Sohn London Conference Notes: Marketfolly
Wilbur Ross on energy and high yield: ValueWalk
Howard Marks on oil: CNBC
ValueX book recommendations: Linkedin
Interview with Michael Burry: NY Magazine

Wednesday, November 4, 2015

Compilation of Value Links From Around the Web: November edition

Below is a compliation of the most interesting reading I've come across in the past month. 

Buffett, Munger and Berkshire:

Warren Buffett interview on CNBC:
Warren Buffett Not “Losing Any Sleep” Over Market Gyrations: Fox Business
Warren Buffett's Take on China, Wages and Donald Trump: Bloomberg Business
Berkshire’s Abel targeted by pilots union: Bloomberg
Buffett Builds Rail Superhighway to Grab Truck Freight:  Bloomberg
Warren Buffett's Full Interview on 2016 Election & More at the Fortune Most Powerful Women’s summit: Youtube
Munger bashes Valeant: Bloomberg
Profile of Tracy Britt Cool: Fortune
A dozen things learned about mistakes from Charlie Munger: 25IQ


Guy Spier and Mohnish Pabrai:

Ask anything session with Guy Spier: Beyond Proxy
Guy Spier on what to do about market turmoil: Observer
Notes from the 2015 Pabrai Funds meeting: Frenzel Herzing, Bits Business
An interview with Guy Spier: Bloomberg


Seth Klarman:

Would Seth Klarman Buy His Own Book? Link
The collected wisdom of Seth Klarman: Scribd

Other reading:

Presentation on General Motors by Ninad Shinde: Link
Sanjay Bakshi on the prejudices of mister market: Google Talks
Interview with Howard Marks: Youtube
Howard Marks latest memo: Inspiration from the world of sports: Oaktree Capital
Sohn Canada Investment Conference Notes 2015: Capitalize For Kids: Market Folly
Donald Trump’s persuasion tactics: Reason.com
Ben Bernanke on Charlie Rose: Charlie Rose
The latest issue of the Graham and Doddsville newsletter: Columbia Business School
Wilbur Ross on world economic conditions: Fox Business

Tuesday, September 8, 2015

Compilation of Value Links From Around the Web: September edition



Here is my compilation of the most interesting topics from around the web:


My investment thesis on Hyundai Motor:

Manual of Ideas published my investment thesis on Hyundai Motor: Manual of Ideas

Warren Buffett and Berkshire Hathaway:

Berkshire is undervalued: David Kass Blog

Warren Buffett letter to Barron’s from 1962 on dubious accounting methods:Barron’s

How BYD began making electric buses in the United States: Paulson Institute

Heinz completed Kraft purchase and Buffett joins the board: NYT

Berkshire Hathaway Inc. to Acquire Precision Castparts Corp. for $235 Per Share in Cash  - $37.2 billion: Berkshire Hathaway

Warren Buffett on CNBC discussing Precision Castparts, IBM, and media companies:  Transcript

and videos:


Francois Rochon discussing Precision Castparts: Value Investor Insight

Warren Buffett on Squawk Box August 10thCNBC

How Warren Buffett built his empire: Forbes 1990: ValueWalk

An analysis of GEICO by Sanjay Bakshi

Charlie Munger:

The Super Investors of Daily Journal Corp: Forbes

Charlie Munger interviewed by CNN Money:


Charlie Munger on frozen corporation: DropBox

Mohnish Pabrai:

Mohnish Pabrai – Bridge and its similarities to investing: Sound Cloud

Mohnish Pabrai on the U.S. as an emerging market: Manual of Ideas


Seth Klarman:

Baupost letter to investor from June 1999: SEC Filling

Seth Klarman’s presentation to Bruce Greenwald’s 2010 CBS class: Youtube

Seth Klarman on the decision the hold cash – 2004 letter: Link

Seth Klarman in Barron’s in 1991: ValueWalk

Google:

Google’s official blog announcing Alphabet: Google Blog

Alphabet lets Google chase moonshots and stay profitable: WIRED


Other reading:

David Einhorn at the Grant’s Conference: ValueWalk

Keith Smith interviewed by the Manual of Ideas

Jeremy Grantham “We’re Closing in on Bubble Territory”: Morrningstar

Tom Gaynor at Google: The Evolution of a Value Investor: Youtube

Joel Greenblatt’s special situation class – analysis of Mood’s from 2006:HedgeRoll

Walter Schloss notes from Net Net Hunter

Greenlight Capital Q2 2015 letter to investors: Scribd

A rare interview with the man who cracked Wall Street – Jim Simons: TED


Thursday, June 18, 2015

Compilation of Value Links From Around the Web: June edition

Here is my compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,

Alex

------------------------------------


Notes from the Berkshire Hathaway Annual meeting:

Analysis of the Berkshire Hathaway Annual Meeting | WSJ

Notes from the Berkshire Annual Meeting by David Kass | David Kass

Other annual meeting notes: Valuewalk, S&C Messina, Motley Fool,  Business Insider


Notes from the Daily Journal Annual meeting:

Notes from the Daily Journal Annual meeting | Aznaur Midov

Two hour audio clip of Charlie Munger answering questions at the Daily Journal annual meeting | ValueWalk, Bamboo Innovator,

Daily Journal Annual Meeting – coverage by Forbes| Part 1, Part 2, Part 3 and Part 4

Chai Jing's review: Under the Dome – Investigating China’s Smog: Charlie Munger recommended watching this at his annual meeting |  Youtube


Warren Buffett:

Notes from the Meeting Dr. George Athanassakos and Ivey MBA and HBA students had with Mr. Warren Buffett | Ben Graham Investing

Jeff Cunningham interviews Warren Buffett | Youtube

Analysis of the investments made by the Buffett Partnership | Bull Bear and Value Blog

How Warren Buffett keeps up with information |  Farnam Street

Buffett: No stock market bubble, but few bargains | CNN Money

Buffett: Tesla doesn't threaten me | CNBC


Mohnish Pabrai and Guy Spier:

Mohnish Pabrai and Guy Spier in Conversation with Saurabh Madaan | Talks at Google

Video from Guy Spier’s Aquamarine Capital 2013 Partnership meeting | Link


Other:

Would Benjamin Graham have hated index funds? | WSJ

A dozen things learned from Lou Simpson | 25IQ

A conversation with Joel Greenblatt – Interviewed by Howard Marks| Youtube

Greenlight Capital Q1 2015 letter | Value Walk

2015 Sohn Conference presentations | Marketfolly

Benjamin Graham’s last interview | Link

Baidu CEO interviews Bill Gates and Elon Musk | Youtube

SALT conference – Chanos, Bass, Burbank, Cooperman | Marketfolly

Bill Gates interview: How the world will change by 2030 | Youtube


Warren Buffett on CNBC after the Berkshire Annual Meeting:







Thursday, March 26, 2015

March Compilation of Value Links From Around the Web


Here is my compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,

Alex

--------------------


Warren Buffett:

Berkshire’s portfolio changes in Q4: Dataroma

Buffett delegating more to his deputies: Salt Lake Tribune

Buffett tells deputies to supervise newest Berkshire businesses: Bloomberg

Buffett’s German to do list: Handelsblatt

The fun has just started in auto sales Buffett says: Bloomberg

Buffett’s son is not heir apparent: CNBC

2014 Berkshire Annual report links:

2014 Berkshire Hathaway Annual Report: Berkshire

Article Buffett mentions on Jim Ling: D Magazine

Grading Buffett after 50 years: Fortune

Buffett on CNBC: Value Investing World

Berkshire’s acquisition of Kraft:

3G to acquire Kraft: Bloomberg

How Kraft Rolled out the welcome mat: WSJ

Kraft and 3G: WSJ

“Will own Kraft forever” says Buffett: CNBC

3G buying to keep: CNBC

Kraft Heinz structure: CNBC

The Kraft negotiations: CNBC

Other:

How to develop your best investment ideas with Josh Brooks of Granite House Capital: Youtube

Wilbur Ross on the housing market and oil prices: Bloomberg

Highlights from Seth Klarman’s 2014 letter: Bloomberg

More highlights: Valuewalk

Baupost sifted through energy companies: Bloomberg

Mohnish Pabrai at TiE SoCal: Youtube

Mohnish Pabrai and Guy Spier Google Talk: Youtube

Tribute to Donald Keough who lead Coke through the New Coke debacle: New York Times

Tribute to Irving Kahn who lived until 109 and worked under Ben Graham: Bloomberg

Friday, February 20, 2015

Invitation: YellowBRKers Meet and Greet at the Berkshire Annual Meeting



Dear readers,

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


YellowBRKers 2015 details:

The 2015 event will be held at the same time and location as in prior years.


Friday May 1st from 4PM to 7PM


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

For more details and registration: www.Yellowbrkers.com

I look forward to seeing you there!

Alex

Tuesday, February 17, 2015

February Compilation of Value Links From Around the Web

Here is my compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,

Alex

-----------------------------

Wilbur Ross “Why I’m ready to invest more in Europe.” CNBC

Wilbur Ross on Oil: CNBC

Five Good Questions with Mohnish Pabrai and Guy Spier: Part1, Part2

Demographics of India are Promising For the Future – Mohnish Pabrai: Bloomberg India and Part 2

Mohnish Pabrai's December 2014 talk to Sanjay Bakshi's MDI class: Value Investing World

Bill Gates’s Big Bet on Reducing Poverty: Bloomberg

Bill and Melinda Gates Foundation Annual Letter: Gates Notes

Bill and Melinda Gates discuss their foundation's work to improve global healthcare and combat poverty: Charlie Rose

Greenlight Capital’s Q4 letter: Marketfolly

Longleaf Partners Q4 Letter: Longleaf

Bruce Berkowitz on Sears: Valuewalk

Bank of America B warrants (hint – I own BAC/WS/A in my portfolio. Not the B warrants): Beyond Proxy

Klarman: What I’ve learned from Warren Buffett: CNBC

Atul Gawande: The Building Industry’s Strategy for Getting Things Right in Complexity: Farnam Street

Bill Gates at Davos 2015 – Sustainable Development A Vision for the Future: Value Investing World

Highlights of Warren Buffett Interview on Fox Business: David Kass

GMO 4th Quarter letter: GMO

Inside Google’s Secret Lab: Graham and Doddsville


Wednesday, December 31, 2014

Weekly Compilation of Value Links - December 31st

Here is my weekly compilation of the most interesting topics from around the web.

Feel free to reach out with questions or comments,

Alex

-----------------------------------------------------

Guy Spier on Investing and Life: Marketfolly

Five questions for Pabrai and Spier: Fivegoodquestions

2014 Pabrai Funds Notes: Bitsbusiness

Mohnish Pabrai talk at Boston College: Youtube

Mohnish Pabrai Barrons interview on Bank of America, Citi, Google and Hyundai: Barrons

Mohnish Pabrai at the Economic News of India: Economic Times

Q&A with Warren Buffett at the Forbes 400 Philanthropy Summit: Youtube

Berkshire Hathaway acquires Charter Brokerage: Yahoo Finance

Susan Decker on what its like to be on Berkshire’s board: Bizjournals

What Tom Murphy taught Warren Buffett: Quartz

Charlie Munger 2008 Caltech lecture: Youtube

Howard Marks on Investing in Russia: Bloomberg

Howard Marks memo : The Lessons of Oil: OakTree

NYSSA interviews William Thorndike of The Outsiders: Youtube

Larry Cunningham: Berkshire and Buffett Today: Culture, Control, and the Duracell Deal: Beyondproxy

Value Investor Insight interview with Keith Trauner and Larry Pitkowski: Value Investor Insight

“Dream, People, Culture”: Carlos Brito, CEO of Anheuser-Busch InBev: Value Investing World

Discussion of Henry Singelton’s business success: Seeking Alpha

Leon Cooperman presenting on the strategies of Henry Singelton: NYSSA

Henry Singleton in Forbes magazine 1979: Forbes

Joel Greenblatt on Wealthtrack: Youtube

Graham-Newman Letters to partners 1946-1958: RBCPA


Warren Buffett’s 2014 letter to Berkshire’s top managers: WSJ