During his recent interview with Tobias, Matthew Sweeney, Managing Partner at Laughing Water Capital, discussed The Value Spectrum. Here’s an excerpt from the interview: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: Let’s take a step back and talk a little bit about your philosophy. So,...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Inflation And Value. Here’s an excerpt from the episode: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: Yeah, I’ll take a shot at it. So, we’ve had this massive crash. We’ve...
In response to Dan Loeb’s letter to Disney, Chris Bloomstran has written his own letter to Disney CEO Robert A. Chapek, encouraging him to “not act by reflexively endorsing the “advice” of well-known activist hedge fund managers.” Instead he’s suggesting a myriad of alternatives regarding its capital allocation. Here’s...
During his recent interview with Tobias, David Horn, Adjunct Professor of Applied Value Investing at Columbia Business School, discussed Endogenous Versus Exogenous Rates Of Return. Here’s an excerpt from the interview: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot David: Let’s get in a little bit. And...
During his recent interview with Tobias, David Horn, Adjunct Professor of Applied Value Investing at Columbia Business School, discussed Greenwald – “We Didn’t Get Growth Right!”. Here’s an excerpt from the interview: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: If it’s the Greenwald class, you’re...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed The Big Con. Here’s an excerpt from the episode: Q3 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: I might punt a little bit on Edward. We can talk about Edward in...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed French Cashflows. Here’s an excerpt from the episode: Q2 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: I have some presentations coming up. And I had to just go back and look...
During their recent interview with Tobias, Jason Buck and Taylor Pearson of The Mutiny Fund discussed “Black Swan” Volatility. Here’s an excerpt from the interview: Q2 2020 hedge fund letters, conferences and more Tobias: So, the Mutiny Fund is, from what I can see, it’s a tail risk fund, is that...
In 2005 Bill Gates and Warren Buffett did a Q&A session with students from the University of Nebraska–Lincoln to discuss a number of topics including how to instil ethical leadership into their businesses. Here’s an excerpt from the session: Q2 2020 hedge fund letters, conferences and more How do you instil...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Cicadas, Parasites And Prime Numbers. Here’s an excerpt from the episode: Q2 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Jake: All right. Let’s talk about investment cicadas. I’m going to start off...
In his 2001 shareholder letter Michael Burry discussed how and when investors should participate in market rallies. Here’s an excerpt from the letter: Q2 2020 hedge fund letters, conferences and more The optimal way to participate in a market rally, by definition, is to buy the better-known stocks that either are...
During his recent interview with Tobias, Larry Swedroe, author of The Incredible Shrinking Alpha discussed why The Pool Of Victims Is Shrinking. Here’s an excerpt from the interview: Q2 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: Well, let’s talk about those other ones. You say, “The...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Credit To Michael Burry. Here’s an excerpt from the episode: Q2 2020 hedge fund letters, conferences and more Tobias: I think that Burry doesn’t get enough credit for his recent– Like, I think that’s what Burry was...
During his recent interview with Tobias, Brian Bares, Founder of Bares Capital Management discussed why DCF Is The Least Reliable Part of a Manager’s Process. Here’s an excerpt from the interview: Q2 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: Let’s talk about valuation for a little bit....
During his recent interview with Tobias, Partha Mohanram, a Professor of Accounting and John H. Watson Chair in Value Investing at The University of Toronto discussed how The Efficacy Of Fundamental Analysis Has Declined. Here’s an excerpt from the interview: Q1 2020 hedge fund letters, conferences and more Image source: YouTube Video Screenshot Tobias: That...
Here’s a great interview with Jim Simons on the Into The Impossible Podcast in which he discusses life lessons and leadership lessons, including his thoughts on decision making which is particularly relevant to investing. Here’s an excerpt from the interview: Q1 2020 hedge fund letters, conferences and more Image source: YouTube...
During his recent interview with Tobias, Maj Soueidan, President and Co-Founder at Geoinvesting discussed Finding Great Opportunities In Tier One Microcaps. Here’s an excerpt from the interview: Image source: YouTube Video Screenshot Tobias: It’s been a bit of tough time to be a small micro-cap investor. It’s such a beaten-up, bombed-out part of...
In his 2010 Fundsmith Shareholder Letter Terry Smith discussed why investing in stocks is a claim on a share of the cash flow produced by a business, not a sophisticated game of pass the parcel to greater fools saying: Q1 2020 hedge fund letters, conferences and more What we can say...
During his recent interview with Tobias, Christopher Bloomstran, President and CIO of Semper Augustus Investments Group discussed Berkshire – Shrinking Its Way To Profitability. Here’s an excerpt from the interview: Q1 2020 hedge fund letters, conferences and more Chris Bloomstran: We really haven’t had to whack the machete that much a lot of it...
In their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed some reasons Why Warren Buffett Is Selling Stocks Down Under 10%. Here’s an excerpt from the episode: Q1 2020 hedge fund letters, conferences and more Tobias Carlisle: Yeah. Let’s talk about WEB and his kind of...
Here’s a great interview with Bill Ackman on The Knowledge Project Podcast speaking about a number of really interesting topics including lessons he learned from Warren Buffett, saying: Q1 2020 hedge fund letters, conferences and more Question: What are some of the lessons that you’ve learned over the years from Warren...
Warren Buffett recently released his Berkshire Hathaway Annual Report 2019. One of the key take-aways from the letter is Berkshire’s ongoing focus on the power of retained earnings from the companies in which Berkshire invests. Here’s an excerpt from the letter: Q4 2019 hedge fund letters, conferences and more At Berkshire,...
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