charliemunger
ValueWalk
Die Holding des legendären Investors Warren Buffett sitzt auf Rekord-Geldreserven von mehr als 160 Milliarden Dollar. Der 93-Jährige sieht derzeit kaum spannende Investitionsobjekte. In den USA gebe es nur «eine Handvoll» Unternehmen, die bei seiner Holding Berkshire Hathaway für große Sprünge sorgen könnten - und diese hätten er und andere schon lange im Blick, hieß es im Jahresbericht für 2023. Im Ausland sieht Buffett gar keine passenden Kandidaten für die Geldanlage. Berkshire Hathaway gehören unter anderem der Versicherer Geico, die Eisenbahngesellschaft BNSF und der Batteriehersteller Du...
DPA (German)
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Dear fellow investors, Watching Warren Buffett and Charlie Munger Saturday in Omaha caused us to think about a very popular 1960s TV show called, “The Dating Game.” Hosted by Jim Lange, the game was played with the host on one side of a wall with a male or female contestant. On the other side were three people of the opposite sex and they were attempting to answer questions and get a date. The political pressure against oil drilling and exploration makes “dating” look very attractive to us in the oil industry! Warren Buffett made clear he’s not going to buy Occidental Petroleum (NYSE:OXY), but...
ValueWalk
Dear fellow investors, We have been reminding everyone that we believe we are unwinding a financial euphoria episode that Charlie Munger called the biggest of his career, “because of the totality of it.” In the process of its unwinding, the sins committed during the euphoria episode will have a price to pay. Many investments got over-capitalized by nearly free money. Q4 2022 hedge fund letters, conferences and more “For the near term that’s gone,” he said, adding that another trend coming to an end is a willingness to fund growth at all costs. “You could call it the SoftBank Vision Fund era, w...
ValueWalk
If you’ve read the recent post on John H Patterson and his National Cash Register Company, you will have observed that there are many important learnings and take-aways from his business. From empowering employees and tone from the top, to maintaining quality and customers are key, all are integral factors to the success of any company. One key indicator of its importance as a lesson to investors is how fond Munger is of citing that business as a teaching platform; one from which we can all learn. Q4 2022 hedge fund letters, conferences and more Charlie is also recognised as an advocate of che...
ValueWalk
Dear fellow investors, Q4 2021 hedge fund letters, conferences and more Ben GrahamBen Graham is ascribed as being the father of value investing. The intellectual framework he brought to investors was using the available accounting to measure value of a business. His way of measuring was book value, the total assets minus all liabilities. By figuring out this number, he could then divide this metric by the total shares outstanding to understand how much book value per share (what some may call net worth) a company had versus what the price the shares were trading for in the stock market. This i...
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Every ValueWalk reader knows Gresham’s Law: Bad money drives out good. Q4 2021 hedge fund letters, conferences and more Named for Sir Thomas Gresham (1519 – 1579), English financier, who observed, when debased coinage becomes legal tender, pure coinage is hoarded or melted down, driving “good money” out of circulation. Sir Thomas’ namesake, author William Lindsay Gresham (1909 – 1962), whose “Nightmare Alley,” the grim 1946 novel and 1947 film noir of carnival deception, was recently remade by Guillermo del Toro, promulgated his own Gresham’s Law in the 1953 classic expose of carnival life, “M...
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Whitney Tilson’s email to investors discussing Charlie Munger’s speech on Friday; Doug Kass on cryptocurrencies; his take on cryptos. Q3 2021 hedge fund letters, conferences and more Charlie Munger's Speech On Friday1) At age 97, investing legend Charlie Munger doesn't do much public speaking anymore. When he does, I always pay attention because I think he's not only one of the world's greatest investors but also thinkers/philosophers. One of the highest honors of my life was being a contributor to the definitive book about him, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger....
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I listen closely to two Charlies. Born three years and two hundred miles apart. Q3 2021 hedge fund letters, conferences and more A Tale Of Two CharliesCharlie “Bird” Parker of Kansas City, Missouri (1920-1954), greatest saxophonist of all time—the “GOAT”---whose jazz transformed music forever. Charlie Munger of Omaha, Nebraska (b. 1924), legendary investor, polymath, educator, philanthropist, named “the broadest thinker I have ever encountered” by Bill Gates. Both Charlies earned legions of devotees who mine and sift their every note and every word. Both Charlies endured life’s blows, terrible...
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