Notes from the 2014 Markel Conference Meeting. Tom Gaynor & Steve Markel Q: (from David Winters). Would you ever do anything that's dilutive. TG - Markel Corporation (NYSE:MKL) was a family business.... Read More

Bill Gates responds to Malcolm Gladwell's theory that it takes 10,000 hours of deliberate practice to master a skill. Apart from acknowledging luck, timing and an open mind, Gates... Read More

Davis Opportunity Fund: An Update from The Davis Research Team Q: Please provide an overview of Davis Opportunity Fund. A: Davis Opportunity Fund, which invests predominantly in U.S.-listed companies, has the... Read More

Summary: Aphria Inc. (NYSE:APHA) Yesterday Aphria received a ‘hostile’ takeover offer from a company called Green Growth Brands Ltd. (“GGB”), which aims to acquire Aphria in a C$2.8... Read More

A follow up to share Monsanto’s public response to Bayer AG’s unsolicited proposal to acquire Monsanto for $122 per share in cash. Monsanto believes that Bayer’s current proposal is... Read More

Chinese financial engineers are currently in the process of testing what it calls the Impossible Trinity of market feats, a Deutsche Bank report says. The level of difficulty is... Read More

There is currently $1.7 trillion of cash on S&P 500 non-financial balance sheets and, according to a new research note from Bank of America, how corporate’s plan to spend... Read More

Elevation Capital Value Fund performance summary for the month ended December 31, 2016. 2016 Hedge Fund Letters For comparative purposes we have detailed two informational benchmarks we consider relevant to underlying... Read More

Ariel Fund Q3 third quarter of 2014 experienced a sharp divergence between the major stock market indexes. While domestic large caps inched ahead, foreign stocks fell, and U.S. small caps... Read More

Changing Dynamics Of Regulation - The Sunset by Sui Generis Very few industries actually suffer the same fate as the proverbial buggy whip, that is to say extinction. We wanted... Read More