Big words sound smart. Q2 hedge fund letters, conference, scoops etc Kapa65 / Pixabay Said differently, intellectual competence is positively correlated with the complexity of one’s vocabulary. Readers assume that the more difficult a passage is to read the more competent it must be. Think about how silly that is for a moment. This [...]
When I look back at some of our early letters, it’s possible that they could have been written by Dr. Fox. But over the years, I think I’ve gradually found my voice. I’ve learned to write like I talk and like I think. Being simple-minded is helpful in this [...]
We recently presented our investment thesis on KAR Auction Services (KAR) at ValueX Vail. Aside from a “leisurely hike” up the mountain at 10K feet after starving myself for three weeks, and a torturous spin class with our new Chief of Staff, this is always my favorite trip of [...]
In case you missed it, now may be a good time to revisit, the value in boredom relative to the allurement of excitement. A few excerpts below from our mid-year letter to investors: Q3 hedge fund letters, conference, scoops etc A note on typical, late-cycle behavior: While the market is still trading near [...]
The first two are links to the articles that I mentioned to you specifically. They have had such an impact on me that I have scheduled reminders to read them monthly. I hope you enjoy them as much as I do: Slow Dance The Tail End Get The Timeless Reading eBook in [...]
Our Deconstructing Quality series explores the three categories Burgundy assesses in our search for worthwhile companies. Part I looked into the business characteristics that help define a quality business. Part II considered the financial attributes that make for attractive investments. In Part III, our final segment, we will investigate [...]
I attended my first BOTOX party this year. While I resisted the urge to join in the festivities, I believe the upside from that experience will be far more rewarding than a set of frozen eyebrows. Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should [...]
We don’t avoid risk. Avoiding risk also means avoiding returns. Get The Timeless Reading eBook in PDF Get the entire 10-part series on Timeless Reading in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. [...]
Our final group of graphic sins looks at what can occur when the design dominates the data. These are special effects gone wild. Back in my early science days (***Old-timer yarn warning alert!***), you sent data that you wished to include in a formal report to a graphic design [...]
